UltraTech, India's top cement maker by capacity, signalled better core profit in upcoming quarters as the market absorbed price hikes and demand picked up, after it reported an earnings beat on Thursday on strong volumes.

Ultratech Cement reported a 17% YoY decline in its net profit in the December quarter. Volume is was recorded at 10% YoY.

Shares of UltraTech Cement Ltd. fell on Friday despite the third quarter numbers being slightly ahead of expectations. However, while most analysts remain positive, CLSA remains cautious on the stock’s valuation, suggesting a balanced risk-reward profile at current levels.

UltraTech Cement, India's biggest cement maker by capacity, reported third-quarter earnings above estimates on Thursday on the back of strong volume growth, sending its shares soaring 7% in afternoon trade.

UltraTech Cement reported a 16.5% year-on-year decline in Q3FY25 profit, with a standalone profit after tax of ₹1,434 crore, compared to ₹1,718 crore in the same quarter last year.