UltraTech Cement posted on Thursday a 13.7 per cent drop in net profit, dented by higher expenses.
Net profit declined to Rs 394 crore ($55.30 million) for the quarter ended December 31, 2018, from Rs 456 crore a year earlier, the company said.
Meanwhile, revenue from operations surged 18.9 per cent to Rs 9,390 crore and domestic sales volume jumped 15 per cent.
Shares in UltraTech Cement declined as much as 2 per cent on Thursday. At 2:20 pm, UltraTech Cement shares traded 1.6 per cent lower at Rs 3,789.10 apiece on the NSE, whose benchmark was nearly unchanged amid a choppy session.
($1 = Rs 71.2490)