The Ramco Cements Ltd has reported its unaudited standalone results for the three months ending 31 December 2014. The company reported a decline in income from operations to Rs.815.93 crore, compared to Rs.868.20 crore recorded in the corresponding quarter a year earlier. Net profit for the quarter fell to Rs.22.96 crore from Rs.25.59 crore.
While the company has witnessed an increase in cement sales in Kerala and West Bengal, in other states the demand for cement has become sluggish. According to reports, Ramco Cements expects its 1 million grinding unit being at Vizag, Andhra Preadesh, to be commissioned in April this year. The project, which required an investment of some Rs.475 crore, has been delayed – partly due to the damage caused by cyclone Hudhud.
The company has reported two consecutive quarters of growth, with production and sales both up and operating profit considerably higher than the same period last year.
Indian cement manufacturer Ramco Cements posted a net profit of Rs.24.99 crore in the quarter ended 31 March 2014, a 61% y/y decline compared to the corresponding quarter in 2013.