Ramco Cements net profit down

Ramco Cements net profit down
07/11/2017 , by , in ALLIED

The Ramco Cements has recorded 18.8% year-on-year (y-o-y) fall in net profit to Rs 168.5 crore for the second quarter (Q2) of 2017-18 on the back of an increase in operating costs.

“The advantage of low cost pet coke inventory built-up earlier has exhausted and the effects of subsequent purchase of pet coke at increased market price has reflected in the operating cost during the current year,” the company said.

The company’s revenues however increased 5% y-o-y to Rs 1,073.7 crore due to better sales in the eastern markets. Ramco said that it has completed its share buy-back programme. The company had purchased 25 lakh shares at an average rate of Rs 673 per share at a total cost of Rs 168.12 crore including brokerage and other charges and net of input tax credits.

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