MUMBAI (Reuters) - UltraTech Cement, India's biggest cement producer, reported a near doubling of profit in the quarter to the end of September from a low base but warned of higher costs for materials, fuel and freight.
Demand for cement in India, the world's second-largest producer after China, is expected to rise about 8 percent during the fiscal year that ends in March, driven by a government push to expedite infrastructure projects to revive growth.
Sales growth across the sector has been slow this year as a result of sluggish homebuilding and construction in Asia's third-largest economy.
Margins of cement makers have come under pressure in recent months due to an increase in the cost of fuel and transport. Ultratech's variable costs rose 8 percent in the quarter from a year previously, the company said on Saturday.
In September, the government hiked diesel prices by 14 percent and that will have a further impact on cement producers.
Major rivals Ambuja Cements
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