UltraTech Cement, India’s largest cement firm, has reported more than doubling in second quarter profits helped by a low base, even as the company warned that high input and energy costs and a market surplus would squeeze margins going forward. UltraTech, which has installed capacity of about 52 million tonne and hopes to increase that by over 9 million tonne by mid-2014, warned that a surplus scenario in the Indian cement industry would likely continue for 2-3 years.