Ramco Cements today said its standalone net profit declined to Rs 22.96 crore in the third quarter ending December 31, 2014, from Rs 25.59 crore during the same period in the previous fiscal.
Total revenue for the three month period slipped to Rs 817.77 crore from Rs 870.01 crore during corresponding period a year ago.
Sales of cement for the nine month period ending December 31, 2014 stood at 56.59 lakh tonne as against 62.01 lakh tonnes sold during the same period in the previous year.
On the exports front, the company shipped 1.29 lakh tonne for the nine-month period against 1.49 lakh tonnes during the corresponding period last year.
"Cement production is lower by eight per cent and sales by nine per cent for the nine month period ending December 31, 2014", the company said in a statement.
On the upcoming projects, the company said, it was in the processing establishing the grinding unit at Visakhapatnam in Andhra Pradesh with a capacity to grind one million tonne per annum at a cost of Rs 475 crore.
"There has been a delay in the implementation of the project schedule, among other things, due to the damage caused by cyclone Hudhud. The project is scheduled to be commissioned in April 2015", it said.
