UltraTech seen posting 8% YoY net profit rise

UltraTech Cement is expected to post an 8% YoY rise in net profit for the first quarter of fiscal year 2012-13 (FY12-13) on the back of better sales realisation and a low base effect, an average estimate of 21 brokerages showed.

Net sales are seen rising 15 per cent to INR49.98bn for the country’s largest cement producer. "We expect Q1FY13 (Apr-Jun) to be yet another strong quarter for cement companies," ICICI Securities said in a pre-earnings note. "Average all-India cement prices are expected to be higher by 11 per cent YoY and 5.5 per cent QoQ, while average cost per tonne is likely to be up 8-9 per cent YoY and four per cent QoQ."  On a sequential basis, the company's net profit is seen falling 15 per cent and net sales  declining six per cent.

The company will announce its second quarter earnings on Friday. (Source: Equity Wire)