Ramco Cements July-Sept net profit down 86% to Rs 18cr

Total income of the company fell to Rs 920.71 crore during the reporting quarter compared to Rs 994.73 crore a year ago

Chennai-based Ramco Cements today reported a little over 86% dip in net profit for the July-September quarter at Rs 18.27 crore on lower sales.

The company, which has 13 million tonnes per annum (mtpa) cement-making capacity at its five plants in South India, had clocked Rs 132.89 crore net profit in the same quarter last fiscal, it said in a BSE filing.

Total income of the company also fell to Rs 920.71 crore during the reporting quarter compared to Rs 994.73 crore a year ago.

Total expenses gone up to Rs 863.70 crore for the period from Rs 749.49 crore a year ago. This is mainly because of higher power and transportation costs.

Power and fuel costs of the company rose to Rs 216.14 crore during the period from Rs 193.40 crore last year. Transportation costs went up to Rs 197.66 crore from Rs 171.91 crore a year ago.

Shares of the company were trading at Rs 177 apiece in the afternoon trade on BSE.