UltraTech Cement - January 2017

If recent figures from UltraTech Cement are anything to go by, India’s cement sector has not been as severely hit by the demonetisation process as first feared. Although results for 3QFY17 show a two per cent decline in domestic sales to 11.01Mt and a one per cent dip in overall sales to 11.7Mt, consolidated net profit was up 4.7 per cent YoY to INR59.39bn (US$871.6m).