Economy & Market
Ramco Cements Q1 net up 57percent at Rs 156 cr
Ramco Cements Ltd has reported a 57 per cent growth in net profit during the quarter ended June 2016 at Rs 156 crore, as compared to Rs 99.24 crore for the quarter ended June 30, 2015.
Total income has increased from Rs 949.24 crore for the quarter ended June 30, 2015 to Rs 973.95 crore for the quarter ended June 30, 2016.
Sales volume in the domestic market during the quarter increased to 20.45 lakh tonnes from 17.82 lakh tonnes, a year ago. However, exports remained flat at 0.31 lakh tonnes.
The company said that there has been an improvement in the off-take of cement by about 15 per cent during the quarter. Ramco continued to focus on cost reduction measures and reduced the operating and logistics costs significantly and is confident of sustaining the momentum in the coming quarters also.
The cement major also reduced borrowings by around Rs 312 crore out of internal accruals and reduction in working capital during the quarter.