Ramco Cements' profits hit by rising production costs

Ramco Cements Ltd has reported unaudited standalone revenue of INR17,932m (US$220m) in the quarter ended 30 September 2022. This compares with INR17,793m in the previous quarter and INR15,010m in the same quarter a year earlier. Net profit in the September 2022 quarter came in at INR114.7m, down from INR1122.7m in the previous year and significantly lower than the INR5170.8m reported in the September 2021 quarter.

Power and fuel costs have advanced from INR2862.5m in the September 2021 quarter to INR6663.8m in the same period this year, while cost of materials consumed has risen from INR1705.1m to INR2237m.

For the half year ended 30 September 2022, revenue stood at INR35,725m, up from the INR27,357m seen in the same period in 2021. Meanwhile, net profit has tumbled from INR6860.6m to INR1237.4m over the same period. Power and fuel costs have soared from INR5069m in the half year ended 30 September 2022 to INR11,907.5m in the same period a year later.