Home Business India's UltraTech Cement reports Q2 profit decline by 42%

India’s UltraTech Cement reports Q2 profit decline by 42%

UltraTech Cement reported 42.5% fall in September-quarter profit. (file)

Bangalore:

India’s top cement maker UltraTech Cement on Wednesday reported a 42.5% fall in its September-quarter profit, impacted by increased aggregate spending and lower demand.

Consolidated net profit for the quarter stood at 7.56 billion Indian rupees ($91.77 million) as against 13.14 billion rupees a year ago.

Analysts on an average had expected the company to report a profit of Rs 8.58 billion for the latest quarter, according to Refinitiv’s IBES data.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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