|
|
Ultratech, one of the majore cement manufacturers of India, has reported a net profit of Rs. 251 crore for the second quarter, which ended on Sep 30, which is about 53% up from the net profit reported during the corresponding period last fiscal. The net sales for 2009-10 has been reported to be Rs.1,541 crore, which is 10% up from the last fiscal.
"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, an arm of the Aditya Birla group, will soon merge with other brands of cement for Aditya Birla group, which are being sold under the name of Grasim cement.
Total cement production by the company stood at 3.73 million tonnes, a rise of 12 percent over the corresponding period last fiscal.
