UltraTech Cement hits 52-week low post September-quarter results

The stock hit a 52-week low of Rs 3,488, down 3.3%, extending its Fridays 3.2% decline on the BSE.

Shares of UltraTech Cement hit a 52-week low of Rs 3,488, down 3.3% on the BSE, after the company reported 11% year on year (Y-o-Y) decline in its consolidated net profit at Rs 3.76 billion in September quarter (Q2FY19), due to higher operating cost. The cement major had profit of Rs 4.24 billion in the same quarter last fiscal. The stock lost 6.5% in past two trading days.

Net sales during the quarter under review grew 20% at Rs 81.11 billion from Rs 67.52 billion over the previous year, on back of strong volume growth. EBITDA per tonne was