UltraTech Cement consolidated Q2 net profit down 30%
National | IANS | Published :Mumbai, Oct 18 : Aditya Birla group company UltraTech Cement on Wednesday reported a decline of 31.10 per cent in its consolidated net profit for the quarter ended September 30, 2017-18.
According to the company, its consolidated net profit declined to Rs 423 crore from Rs 614 crore reported for the corresponding quarter of last fiscal due to increased depreciation and higher interest cost relating to "the acquired cement plants".
"This quarter continued to witness increasing cost trends, attributable to increase in fuel prices," the company said in a BSE filing.
On a standalone basis, UltraTech Cement's profit after tax decreased by 28.28 per cent to Rs 431 crore for the quarter under review from Rs 601 crore reported for the corresponding quarter of last fiscal.
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