Ramco Cements dips on disappointing Q4 results
The stock has dipped 6% to Rs 256 after reporting a sharp 61% yoy decline in net profit at Rs 25 crore for March quarter.
Ramco Cements has dipped 6% to Rs 256, in an otherwise firm market, after reporting a sharp 61% year-on-year (yoy) decline in net profit at Rs 25 crore for the quarter ended March 31, 2014 (Q4FY14), due to lower realization and higher expenditure. The company had posted a profit of Rs 64 crore in the same quarter last year.
Net sales too declined by 0.32% to Rs 924 crore during the quarter under review from Rs 927 crore in the corresponding quarter of the previous year.
Total expenditure increased by 10% yoy to Rs 933 crore, while interest costs jumped 61% to Rs 54 crore from Rs 31 crore, Ramco Cements said in a statement.
The stock opened at Rs 274 and touched a low of Rs 251 on the BSE. A combined 247,800 shares changed hands on the counter till noon deals on the BSE and NSE.
Net sales too declined by 0.32% to Rs 924 crore during the quarter under review from Rs 927 crore in the corresponding quarter of the previous year.
Total expenditure increased by 10% yoy to Rs 933 crore, while interest costs jumped 61% to Rs 54 crore from Rs 31 crore, Ramco Cements said in a statement.
The stock opened at Rs 274 and touched a low of Rs 251 on the BSE. A combined 247,800 shares changed hands on the counter till noon deals on the BSE and NSE.