Media reports say that shares in UltraTech Cement slumped as much as 4.76 per cent on October 21 after the country’s largest cement maker posted a 52 per cent fall in net profit for the July-September quarter.
The UltraTech Cement reported on October 19 net profit of Rs 2.6 billion for the quarter ended September 30, falling short of market estimates of Rs 4.1 billion.
Hiked 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.