By Kosaku Narioka

UltraTech Cement Ltd.'s third-quarter net profit more than doubled, as public infrastructure projects and housing demand boosted revenue, the Indian cement company said Saturday.

Net profit for the quarter ended December rose to 15.84 billion rupees($217.0 million) from INR7.12 billion a year earlier, UltraTech Cement said. That beat the estimate of INR11.96 billion from a poll of analysts by S&P Global Market Intelligence.

Revenue for the period increased 17% to INR122.54 billion, it said.

UltraTech said a pickup in government-led infrastructure projects bolstered demand, while rural and semi-urban housing continued to drive growth.

The cement company said that the recovery from the disruption caused by the Covid-19 pandemic has been rapid, and that pent-up urban demand is expected to pick up as migrant workers return gradually.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

01-24-21 2138ET