Ramco Cements records 5% revenue rise

India’s Ramco Cements saw a 6.3 per cent YoY decline in standalone net profit for the quarter ending 31 December 2019, falling to INR950m (US$13.28m) from INR1.01bn. However, revenue increased 5.3 per cent YoY to INR12.86bn, while EBITDA also advanced 4.7 per cent to INR2.21bn.

"During the current quarter, the company witnessed sluggish demand in its core markets coupled with pressure on prices due to active monsoon. Demand in eastern markets was more visible during the current quarter, but the prices particularly in West Bengal were very poor and the trend in Jan-20 is positive with improvement in prices," the company said in a statement.

The sales volume of cement rose to 2.844Mt in the 3QFY19-20, showing a modest improvement compared to 2.747Mt in the year-ago period.