By IANS,
Mumbai: Cement major Ultratech Friday said its profit after tax had gone up 53 percent to Rs.251 crore for the quarter ended Sep 30, while net sales grew by 10 percent to Rs.1,541 crore.
“Though the results reflect an improvement over second quarter of previous fiscal, lower demand particularly in the markets of southern India, coupled with surplus capacity adversely affected the company’s performance sequentially,” said Ultratech in a communication to the Bombay Stock Exchange.
Ultratech, which belongs to the Aditya Birla group, will see itself merge with all other cement businesses of the group under its flagship brand Grasim.
Total cement production by the company stood at 3.73 million tonnes, a rise of 12 percent over the corresponding period last fiscal.