UltraTech Cement, one of the leading cement makers in India, Monday reported a decrease of 38.44% in net profit to Rs 3.70 billion for the quarter ended Dec. 31, 2013 as compared to Rs 6.01 billion in the same period last year.
During the quarter, net sales dropped by 1.46% to Rs 47.86 billion when compared with the same quarter last year quarter ended Dec. 31, 2012.
Analysts, on average, expected UltraTech Cement to report a profit of Rs 3.68 billion, on revenue of Rs 48.1 billion.
The combined domestic cement and clinker sales remained flat at 97. mnt while it was 2.89LmT (2.62LmT) for white cement and wall care putty.
''The outlook continues to remain challenging. Demand growth in the long term is likely to be around 8%. The key demand drivers will continue to be housing and infrastructure spends,'' the company said.
