Profit of UltraTech Cement down 17%

Slowdown in demand in Southern India which generates around 30% sales for UltraTech Cement resulted in the company’s net profit falling 17.64% to Rs.196 in the third-quarter this year. The company produced around 4.4 mt of cement during the third quarter this year compared to 3.98 mt produced last year. Drop in cement prices due to excess capacity has further pressurized the company’s margins.