India’s Ramco Cements has reported a 50 per cent YoY increase in net profit to INR1.65bn (US$23.68m) for the 4QFY18-19, while revenue advanced 21 per cent to INR15.43bn.

For the full fiscal year, revenue was up 12 per cent YoY at INR51.87bn. However, fluctuating cement prices and increasing fuel prices meant the company saw a nine per cent fall in profits to INR5.07bn.

The company’s performance in the FY18-19 was boosted by a 19 per cent rise in cement sales to 11.12Mt, compared to 9.3Mt in the previous financial year. Ramco estimates that cement demand will continue to grow by around eight per cent in the FY19-20.