Ramco Cement Q3 net jumps fivefold to Rs 117 cr

Ramco Cements today reported more than fivefold surge in net profit to Rs 117.26 crore for the third quarter ended December 31, on a consolidated basis.
The firm had clocked a net profit of Rs 21.93 crore for the corresponding quarter in the previous fiscal, the company said in a BSE filing.
Total income stood at Rs 821.21 crore for the October- December period as against Rs 816.51 in the same quarter of the previous fiscal.
Total expenses declined to Rs 636.43 crore as against Rs 749.79 crore in the same quarter of the previous fiscal.
The revenue from cement business stood at Rs 821.03 crore during the quarter on a consolidated basis compared with Rs 814.75 crore in the year-ago quarter.

The revenue from windmills declined to Rs 4.23 crore in the quarter as against Rs 6.91 crore in the same quarter of the previous fiscal.

"The company has written back excess tax provision related to earlier years amounting to Rs 1,185 lakh (Rs 11.85 crore) during the current quarter as the said provisions are not required," it said.
It said the sale of cement in Tamil Nadu was impacted during the current quarter due to record rainfall and its consequential inundations in various parts of the state.
Ramco Cements' shares were trading at Rs 376 on BSE at 1345 hours, down 1.31 per cent from the previous close.