India's Ultratech Cement Q2 Profit Reports Slump Of 42%

India's top cement maker UltraTech Cement reported a 42.5% slump in September-quarter profit on Wednesday, dented by a surge in overall expenses and lower demand.

Consolidated net profit for the quarter was at 7.56 billion Indian rupees ($91.77 million) against 13.14 billion rupees a year ago.

Analysts, on average, had expected the company to report a profit of 8.58 billion rupees for the latest quarter, according to IBES data from Refinitiv.

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