UltraTech Cement, India's biggest cement producer, reported a 13.5 per cent year-on-year fall in net profit for the quarter ended June 30, due to a slowdown in home building and infrastructure projects in India.
The company, part of the diversified Aditya Birla Group, reported standalone profit of Rs 673 crore for the April-June quarter, exceeding market estimates of Rs 619 crore, according to Thomson Reuters data. Net sales fell 2.2 per cent to Rs 4,958 crore.
UltraTech said it has earmarked Rs 13,700 crore in capital expenditure to ramp up capacity by 10 million tons by 2015 to 64.45 million tons.
Copyright Thomson Reuters 2013