Power and fuel costs hit profits at Ramco Cements

Ramco Cements Ltd has reported revenue of INR20,180.9m (US$244.3m) in the quarter ended 31 December 2022. This compares to INR17,932m in the previous quarter and INR15,558.8m in the same quarter a year earlier. Net profit after tax fell from INR825.7m in the December 2021 quarter, to INR673.9m in the same period a year later, while basic earnings per share declined from INR3.49 to INR2.85. 

Over the nine months ended 31 December 2022, revenue came in at INR55,906.8m, up from INR42,915.8m in the same period in 2021. Net profit over the same period contracted from INR7686.3m to INR1911.3m, while basic earnings per share tumbled from INR32.50 to INR8.08. Power and fuel costs over the nine-month period jumped from INR9219.8m to INR18,930m.