Bengaluru: Cement maker ACC Ltd on Wednesday posted a 15.7% rise in quarterly profit, which fell short of market estimates as expenses rose.

Standalone profit was 206 crore ($27.99 million) for the third quarter ended 30 September, compared with 178 crore a year earlier, the Mumbai-based company said in a statement.

Analysts on average had expected a standalone profit of 234 crore, according to Refinitiv data.

Cement sales volume grew 10% to 6.55 million tonnes in the quarter, while expenses rose 9.8%.

Quarterly sales of the company, which is a unit of the world’s largest cement maker, LafargeHolcim Ltd, grew 10% to 3,364 crore.