India's leading cement producer, UltraTech Cement has recorded a fall of 16.3 per cent in profit during the first quarter till March compared to the same quarter of the previous year.

UltraTech Cement, which is a part of the Aditya Birla Group, said that it recorded a net profit of Rs 726.2 crore during the quarter from January till March, 2013 compared to Rs 867.32 crore for the same quarter of the previous year. Company's total income increased from Rs 5529.14 crore for the quarter ended March 31, 2012 to Rs 5572.52 crore in the first quarter of the year.

As for the entire financial year, the company recorded a net profit of Rs 2655.43 crore for the year till March, 2013 compared to Rs 2446.19 crore for the year till March, 2012. Total income for the year rose to Rs 20479.94 crore for the year till March, 2013 compared to Rs 18681.72 crore recorded in the previous year.

The company is planning to reduce its capital expenditure by 50 per cent during the coming 12 months from the estimated 44.3 billion rupees in capital spending from the previous year, according to Thomson Reuters SmartEstimate data.  It has an installed capacity of 52 million tonnes of cement per year in the country.