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.

Despite the decline in profit, the quarter 3 results exceeded Street expectations, with net profit surpassing the estimated Rs 1,195 crore. Revenue also beat forecasts, which had predicted Rs 16,854 crore.

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 shares rose 1% following strong Q3 results, with a 17% YoY profit decline but revenue exceeding estimates. Brokerages remain positive, with target prices ranging from Rs 12,100 to Rs 13,

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.