Ramco Cements slips over 2.5% as Q1 PBT drops 43% to Rs 157.5 crore

Ramco Cements shares declined over 2.7 per cent on the BSE on Friday after the company reported a profit before tax (PBT) of Rs 157.50 crore for the quarter ended June 30, 2020, down 43 per cent against Rs 279.93 crore profit in the year-ago period. Revenue dropped 24 per cent YoY to Rs 1,056.79 crore from Rs 1,396.82 crore.

At 02:07 pm, the stock was trading over 2 per cent lower at Rs 686.45 on the BSE. In comparison, the benchmark S&P BSE Sensex was trading nearly a per cent lower at 37,957 levels. 

"The profitability for the current quarter was impacted due to Covid-19. EBITDA has come down by 27 per cent during the current quarter mainly due to drop in sales volume. EBIDTA for the quarter under review is Rs 270.07 crore as against Rs 367.48 crore during the previous corresponding period. READ MORE

The company said the progress of the ongoing capex programme has been delayed due to Covid-19. The company has invested Rs 257 crore during the quarter ended June 30, 2020 towards total capex including for the ongoing capacity expansion programme.