Ramco Cements Shares Advance Over 6% on Solid Q2 Numbers
Ramco Cements said consolidated revenue rose 11.4% to Rs 1,332 crore in the September quarter compared with Rs 1,196 crore in the corresponding period of last year.
Representative image (Reuters)
Ramco Cements Ltd shares advanced over 6% in intra-day trade on Wednesday, i.e. 30 October, after the company reported strong jump in revenue and profit for the second quarter ended September (Q2).
At 2:47 pm, shares of Ramco Cements were trading at Rs 782.05, up 4.4%, after hitting an intra-day high of Rs 796.50. Notably, the stock has risen 30% in the past one year.
Ramco Cements said consolidated revenue rose 11.4% to Rs 1,332 crore in the September quarter compared with Rs 1,196 crore in the corresponding period of last year. Profit after tax also jumped by a massive 43% to Rs 172 crore in Q2 from Rs 120 crore a year ago.
India’s fifth largest cement producer said its operating profit, or Ebitda (earnings before interest, tax, depreciation and amortisation), increased to Rs 308 crore in the September quarter from Rs 259 crore a year ago. Ebitda margin also increased 130 basis points year-on-year to 22.6%.
The company said it sold 2.72 million tonnes of cement during the quarter compared with 2.47 million tonnes in the same period last year.
“The company is making continuous efforts to optimise the supply chain efficiency,” Ramco Cements said in a statement. “It has been constantly focussing on various cost reduction initiatives and improving productivity while maintaining the highest quality standards.”
Ramco Cements also informed that the second cement grinding plant at Kolaghat in West Bengal started production in September, doubling the capacity to two million tonnes per annum.
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