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Ramco Cements profits up in 4Q16 and YTD

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World Cement,

Indian cement company, Ramco Cements, has reported a year-on-year improvement is offtake during the first nine months of the 2016/2017 financial year (April – December 2016).

The company reported sales of 1.99 million t 4Q16, up from 1.63 million t in 4Q15. Financial year-to-date sales were 6.10 million t, compared to 5.15 million t the year before.

Company revenue rose 17.6% to INR96.5 million in 4Q16 and 11.3% to INR298.0 million in the financial year to date. Pretax profits were also up – by 28.4% to INR15.2 million in the quarter and 43.1% in the financial year to date to INR51.5 million.

The company also announced a reduction in its borrowings by INR53 million between 1 April 2016 and 2 February 2017.

“The company has sustained its efforts towards debt reduction since last year, which has resolution in lower finance cost, thereby improving profitability,” Ramco said in a statement.

The company also noted that it has built up a supply of fuel in order to insulate it from the steep rises in petcoke prices seen in recent months.

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India cement news