Ramco Cements' net profit rises 54% to Rs 191.97 cr in June quarter

Ramco Cements on Wednesday reported a 54 per cent growth in profit at Rs 191.97 crore for the quarter ended June 30, 2019, as against Rs 124.98 crore, a year ago. Revenue increased to Rs 1,392.06 crore from Rs 1,224.80 crore, an increase of 14 per cent.

During the quarter, cement sales for the company stood at 2.70 million tonnes, compared to 2.61 million tonnes of the correspond period last year, an increase of 3%.

The company achieved the highest ever quarterly EBITDA of Rs 367 crore during Q1FY20 compared to Rs 255.20 crore, a year ago, an increase of around 44 per cent, said  A V Dharmakrishnan, CEO of the company. During the same period last year, company's EBIDTA was Rs 255.20 crore

Meanwhile, coal and pet coke prices softened during the quarter. ln the fuel mix, pet coke usage fells to 42 per cent during the quarter ended June 2019 against 62% during the same quarter last year. The company has been constantly focusing on various cost reduction initiatives and improving productivity without compromising on quality, Dharmakrishnan added.

The company's capacity expansion programme is on schedule and by the end of 2020, it expects to boost the total capacity to 20 MTPA.