Date:23/10/2005 URL: http://www.thehindubusinessline.com/2005/10/23/stories/2005102302620100.htm

Back UltraTech Cement posts profit in Q2

Our Bureau

Mumbai , Oct. 22

ULTRATECH Cement Ltd has reported a net profit of Rs 8 lakh for the second quarter ended September 30. The company had reported a net loss of Rs 2.29 crore during the corresponding year-ago period.

The results for the quarter under consideration were adversely affected by floods in Maharashtra and Gujarat, which account for 50 per cent of Ultratech's domestic sales; they were also affected by annual maintenance work at the company's production lines, and by escalation in energy prices, said a release from the company.

Net sales for the quarter were up 11 per cent, and amounted to Rs 635 crore (Rs 571 crore). Sales volumes at 30.9 lakh tonnes were down by eight per cent year-on-year.

The company's scrip had closed at Rs 395 on BSE, on Friday, gaining 5.14 per cent during the day.