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India's Ambuja Q3 net rises 11.5 pct, below f'cast

Ambuja Cements Ltd. , India's third biggest cement maker, said on Friday its quarterly net profit rose 11.5 per cent on higher prices, but missed analysts forecast.
Reuters | By HT Correspondent, Mumbai
UPDATED ON OCT 19, 2007 03:58 PM IST

Ambuja Cements Ltd. , India's third biggest cement maker, said on Friday its quarterly net profit rose 11.5 per cent on higher prices, but missed analysts forecast.

Ambuja Cements, in which Switzerland's Holcim owns about 36 percent, said net profit, rose to 2.92 billion rupees ($73.6 million) in its third quarter to September 30, from 2.62 billion reported a year ago.

Total income rose to 13.18 billion rupees from 11.60 billion.

A Reuter's survey of 10 brokerages had forecast for a quarterly profit of 3.31 billion rupees on total income of 13 billion.

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