Ultratech Cement Q3 net dips 17 pc to Rs 196 crore

Ultratech Cement on Saturday said its net profit declined by 17.64 per cent to Rs 196 crore for the quarter ended December 31,2009,over the same period last year. Net sales rose to Rs 1,652 crore for the third quarter ended December 09,against Rs 1,631 crore in the same quarter previous fiscal,Ultratech Cement said in a filing to the Bombay Stock Exchange.

The results have to be viewed keeping in mind the slowdown in demand growth in the markets of Southern India,which constitutes around 30 per cent of the companys sale, the release added. The company produced 4.40 MMT cement in the third quarter,a growth of 10 per cent year-on-year.