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.
Read the article online at: https://www.worldcement.com/indian-subcontinent/13022017/ramco-cements-profits-up-in-4q16-and-ytd/