Ramco Cements standalone Q2 net up 68% to Rs 168.15 Cr

: Cement maker the Ramco Cements Ltd on Wednesday said its standalone profits for the July-September quarter jumped 68 per cent to Rs 168.15 crore.

The city-based flagship company of diversified conglomerate Ramco Group had recorded profits at Rs 114.47 crore during the corresponding quarter of the previous year.

For the six-month period ending September 30, 2019 profits of the company grew by 50.3 per cent to Rs 360.12 crore from Rs 239.45 crore registered same period year ago.

The standalone total comprehensive income for the quarter ending September 30, 2019 was at Rs 167.47 crore from Rs 114.26 crore registered year ago.

For the six-month period ending September 30, 2019 total comprehensive income surged to Rs 359.86 crore from Rs 239.17 crore registered in the corresponding period of last year.

Total cement sales 'volume' for the quarter ending September 30, 2019 was at 27.24 lakh tonnes as against 24.69 lakh tonnes registered year ago period.

For the six-month period ending September 30, 2019 total cement sales volume grew to 54.27 lakh tonne from 50.83 lakh tonne registered corresponding period of last year.

In a statement, the company said during the half year ending September 30, 2019 sales of cement for the company was at 5.43 millon tonnes as compared to 5.08 million tonnes of the previous corresponding period.

On exports, the company said it grew by 39 per cent during the six-month period ending September 30, 2019.

On the wind energy business, the company said the income for the half year ending September 30, 2019 from this division was at Rs 51.83 crore as against Rs 58.02 crore year ago.

On the performance of subsidiary companies, the company said Ramco Windfarms Ltd posted a revenue from operations for the half year ending September 30, 2019 at Rs 11.50 crore while EBIDTA stood at Rs 9.14 crore.

The generation of power during six month period ending September 30, 2019 was at 2.87 crore units as against 3.13 crore in the same period of last year.

For the half year ending September 30, 2019, the revenue from operations and EBIDTA were Rs 12.55 crore and Rs 9.93 crore respectively.

Ramco Industrial and Technology Services Ltd posted revenue from operations at Rs 17.26 crore for the half year ending September 30, 2019.

On the capacity expansion the company said the Unit-2 of cement grinding in Kolaghat, West Bengal commenced commercial production and with this the installed grinding capacity increased to 2 MTPA from 1 MTPA.

The company said it has so far incurred an expense of Rs 1,430 crore for taking up capacity expansion programme. The funds are met 'partly' through internal accruals and borrowings.

The company said the remaining capacity expansion programme was progressing as per schedule but may face delays due to extended monsoon.