UltraTech Cement's Third-Quarter Net Profit Fell 38% on Higher Costs

By Kosaku Narioka

UltraTech Cement Ltd.'s third-quarter net profit fell 38% from a year earlier due partly to higher costs.

Net profit for the quarter ended Dec. 31 fell to 10.58 billion Indian rupees ($130.7 million) from INR17.08 billion a year earlier, the Indian cement company said Saturday.

Third-quarter revenue rose 20% to INR155.21 billion as the domestic grey cement sales volume rose 13%.

Meanwhile, total expenses increased 24% to INR141.24 billion due to higher expenses of power and fuel as well as materials consumed, the company said.

Write to Kosaku Narioka at [e-mail]

(END) Dow Jones Newswires

01-22-23 2233ET