UltraTech Cement shares fall as Q2 profit halves

Reuters

MUMBAI (Reuters) - Shares in UltraTech Cement Ltd(NSI:ULTRACEMCO) slumped as much as 4.76 percent on Monday after the country's largest cement maker posted a 52 percent fall in net profit for the July-September quarter.

The company reported on Saturday net profit of 2.6 billion rupees for the quarter ended September 30, falling short of market estimates of 4.1 billion rupees, according to Thomson Reuters I/B/E/S.

Rising input and energy costs have been putting pressure on margins at Indian cement companies, while demand remains a concern in an economy that is growing at its slowest pace in a decade.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

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