India: Ramco 4Q16 results

Ramco Cements has announced a more than two-fold increase in its net profit to INR2bn (US$30m) for the its fourth quarter ended 31 March 2016, compared to INR934m (US$13.8m) for the same quarter in the previous year. The company’s total income increased by 1.85 per cent to INR10.1bn (US$150.7m) compared to INR9.9bn (US$148m) for the quarter ended 21 March 2015.

The company also reported a two-fold increase in net profit for the year ended 31 March 2016, at INR5.5bn (US$82.6m) compared to INR2.4bn (US$35.8m) for the same period last year.

However, total income for the company decreased 1.2 per cent to INR36.8bn (US$546m) for the year under review when compared to a total income of INR37.3bn (US$552.4m) for the financial year ended 31 March 2015.