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.

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.

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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.