UltraTech unit India Cements posts wider Q3 loss on pricing, demand woes
The company, owned by UltraTech Cement, said its losses before exceptional items and taxes, for the quarter ended December, widened to 3.07 billion rupees ($35.5 million), from a loss of 502.4 million rupees a year ago. Cement prices, which had been falling for most of last year, were little changed through the quarter. During the reported quarter, India Cements incurred an exceptional cost worth nearly 2 billion rupees, consisting of impairment charges of certain assets and provisions for doubtful receivables from its units.