Ramco Cements Q2 net rises nine fold to ₹101 crore
The Hindu
The Ramco Cements Limited (RCL) standalone net profit for the September quarter grew almost nine-fold, over the period from last year, to ₹101 crore on strong sales volume.
The Ramco Cements Limited (RCL) standalone net profit for the September quarter grew almost nine-fold, over the period from last year, to ₹101 crore on strong sales volume.
Revenue from operations rose to ₹2,329 crore from ₹1,784 crore. Raw materials cost increased 7% YoY to ₹897 per tonne due to inflationary impact on procurement cost.
Sales volume grew 38% to 4.61 million tonnes, while the capacity utilisation stood at 82%, the leading cement manufacturer said in a statement.
RCL continues to focus on the strategy of right products for right applications to make its brands stronger. The cement prices are under pressure during the current period under review. The reduction in lead distance has resulted in marginal reduction of logistics cost.
The overall green power usage improved to 38% from 22% due to change in utility of wind power to captive purposes. The green power share is likely to reach 40% and 45% by FY24 and FY25 respectively.
Regarding the ongoing projects, RCL said the 18 MW Thermal Power Plant in Kolimigundla will be commissioned by December and railway siding by June 24.
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