Ultratech Cement Q1 net down 41.8 pct

The company reported a 8.34 per cent decline in total sales to Rs 1,789.8 crore for the quarter under consideration against Rs 1,952.7 crore for the same period a year-ago.

The company attributed the decline in profit and sales to capacity addition of 60 million tonnes per annum in the country in the previous year,which resulted in an oversupply situation.

“These results have to be viewed in the light of the oversupply scenario in the sector,together with logistics and cost pressures,” the company said.