UltraTech - October 2018

Shares in UltraTech Cement hit a 52-week low in late October following the announcement that the company has seen its consolidated net profit fall by 11 per cent YoY in 2QFY19. Net profit for the three-month period came in at INR3.76bn (US$51.29m), below analyst expectations. There was some good news as net sales advanced by 20 per cent YoY to INR81.11bn, but again this was lower than forecast. Meanwhile, the 23 per cent YoY increase in cement volumes predicted by analysts came in at just 21 per cent at 15.1Mt.

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