UltraTech Cement posts 28 per cent fall in profit in Q2

UltraTech Cement Ltd posted a 28 per cent fall in second-quarter profit, but beat street estimates, hurt by higher expenses.

Standalone profit fell to 4.31 billion rupees ($66.26 million) for the quarter ended September 30, from Rs 6.01 billion a year ago, the company said on Wednesday. 

Revenue from operations on a standalone basis rose 6.1 per cent to Rs 65.71 billion, the company, which is part of the Aditya Birla Group, said.

Total expenses for the quarter grew 11 percent to Rs 60.95 billion.

Analysts on average had expected a standalone net profit of Rs 4.15 billion, according to Thomson Reuters data.