Ramco Cements records 15% revenue increase

India’s Ramco Cements Ltd has announced an 18 per cent fall in net profit to INR1.01bn (US$14.18m) for the quarter ending 31 December 2018, compared with INR1.23bn recorded in the year-ago period. Meanwhile, the company’s revenue increased 15 per cent to INR12.17bn on the back of higher cement sales in the domestic market, which rose 19.9 per cent YoY to 2.689Mt.

In the 9MFY18-19, net profit declined 23.7 per cent YoY to INR3.41bn from INR4.47bn. However, revenue was up 14.6 per cent to INR36.31bn, compared to INR31.69 of the year-ago period.

While cement volumes increased in the southern and eastern markets, realisation did not improve as a result of pressure on prices and an increase in transportation costs, according to the company.