Net sales of the cement maker increased to Rs 1,541 crore in the latest quarter from Rs 1,396 crore of the corresponding quarter last year, UltraTech Cement said in a statement to the Bombay Stock Exchange (BSE).

Cement production of the company was higher by 12 per cent to 3.73 MMT in the quarter ended September 30, it said. On outlook, UltraTech said it expects industry demand to grow at 9 per cent in FY'10 given the government's initiatives to boost rural development, infrastructure and housing.

According to the cement manufacturer, the new capacities in the sector, which are at various stages of commissioning, will inevitably result in pressure on margins.
It also said that the board of directors has re-appointed S Misra as Managing Director of the company till March 31, 2010, subject to the approval of the shareholders.
Shares of UntraTech were trading at Rs 832 on BSE in afternoon trade, down by 1.51 per cent over the previous close.