Quarterly Results

Lack of agreement over valuation spurs decision; deal would have provided relief to Indian lenders, which have an exposure of Rs 28,753 crore to Jaiprakash

Except Ambuja Cements, Ultratech Cement, Ramco Cements, and India Cements need to surpass crucial key levels to lead to a rally ahead

Analysts expect industry margin to bottom out in Q2, with peaking of cost, higher exit of cement prices, and pick-up in construction activity in coming quarters

Cement major on track to reach 131.25 mtpa by Q4

The pick-up in retail demand was led by pre-Diwali construction gaining momentum, UltraTech said

Besides, rising crude prices in the international markets and risk-averse sentiment among investors weighed on the local currency, traders said

Aditya Birla group firm UltraTech Cement Ltd on Wednesday reported a decline of 42.09 per cent in its consolidated net profit at Rs 758.70 crore for the second quarter ended on September 30, 2022. The company had posted a net profit of Rs 1,310.34 crore in the July-September period a year ago, UltraTech Cement said in a BSE filing. Its revenue from operations rose 15.61 per cent to Rs 13,892.69 crore during the quarter under review as against Rs 12,016.78 crore in the corresponding period of the last fiscal. According to UltraTech, the second quarter is traditionally a weak one for the cement sector, with lower demand as construction activity slows down during monsoons. "Demand was low during July and August 2022, showing some sign of revival in September 2022," said UltraTech in its earnings statement. UltraTech's total expenses were at Rs 12,934.27 crore, up 26.68 per cent in Q2/ FY23, as against Rs 10,209.43 crore a year ago. Shares of UltraTech Cement Ltd were trading at Rs .