UltraTech Cement shares fall as Q2 profit halves

UltraTech Cements reported a net profit of Rs 2.6 billion for the quarter ended September 30.

Written by Reuters | Mumbai | Published: October 21, 2013 10:17 am

Shares in UltraTech Cement Ltd slumped as much as 4.76 per cent on Monday after the country’s largest cement maker posted a 52 per cent fall in net profit for the July-September quarter.

The UltraTech Cement reported on Saturday net profit of 2.6 billion rupees for the quarter ended September 30,falling short of market estimates of 4.1 billion rupees,according to Thomson Reuters I/B/E/S.

Rising input and energy costs have been putting pressure on margins at Indian cement companies,while demand remains a concern in an economy that is growing at its slowest pace in a decade.

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