Ramco Cements reports Q1 net profit of Rs. 155.81 crore
The Ramco Cements today reported a marginal decline in standalone net profit at Rs 155.81 crore for the first quarter ended June 30, 2017. The company had posted a net profit of Rs 155.93 crore during the same period of previous fiscal, Ramco Cement said in a BSE filing.
Net sales during the quarter under review stood at Rs 1,150.49 crore as against Rs 1,092.82 crore in the corresponding quarter of last fiscal, up 5.27 per cent. Cement sales during the period grew 4 per cent to 21.50 lakh tonnes as compared to 20.66 lakh tonnes in the year-ago period.
On the outlook, the company said, the GST, increased spending by the government on infrastructure and affordable housing scheme are expected to propel the growth for the cement demand in future.
Also, the company is embarking upon increasing its capacity through satellite grinding plants in Vizag, Kolaghat and establish new unit in Odisha. The aggregate estimated cost of expansion is Rs 1,095 crore, it added.