UltraTech Cement Q3 net dips 17 per cent

UltraTech Cement Q3 net dips 17 per cent
Published: 18 January 2010

UltraTech Cement on Saturday said its net profit declined by 17.64 per cent to Rs 196 crore for the quarter ended December 31, 2009, over the same period last year.

Net sales rose to Rs 1,652 crore for the third quarter ended December 09, against Rs 1,631 crore in the same quarter previous fiscal, Ultratech Cement said in a filing to the Bombay Stock Exchange.

"The results have to be viewed keeping in mind the slowdown in demand growth in the markets of Southern India, which constitutes around 30 per cent of the company’s sale," the release added.

The company produced 4.4Mt of cement in third quarter of the fiscal year 2010, registering a growth of 10 per cent year-on-year.

Further, the board of the company has appointed OP Puranmalka as the additional-director with immediate effect.

He has also been appointed as the whole-time director with effect from April 1, 2010 subject to the approval of shareholders of the company.