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Ramco Cements Q4 Net Profit Down To Rs 143 crores

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The company had posted a net profit of Rs 164.58 crore during the January-March quarter of 2018-19, The Ramco Cements said in a regulatory filing.

Ramco Cements Ltd on Friday reported a 13.17 percent decline in consolidated net profit at Rs 142.90 crore for the fourth quarter ended on March 31, 2020, mainly impacted by the coronavirus-induced lockdown.

The company had posted a net profit of Rs 164.58 crore during the January-March quarter of 2018-19, The Ramco Cements said in a regulatory filing.

Total revenue of the company was down 9.17 percent to Rs 1,403.90 crore during the quarter under review as against Rs 1,545.77 crore in the corresponding period of previous fiscal.

“In view of the lockdown declared across the country by the central/state governments due to COVID-19 pandemic during the second half of March 2020, the company”s operations at all locations were adversely impacted,” the company said.

Total expenses stood at Rs 1,218.69 crore in fourth quarter of 2019-20, down 6.38 percent, as against Rs 1,301.85 crore in year-ago period.

During the quarter, cement sale volume was down 10.98 percent to 29.32 lakh tonnes as against 32.94 lakh tonnes in the year-ago quarter.

However, for the fiscal 2019-20, The Ramco Cements’ net profit was up 18.43 percent to Rs 605.70 crore. It was Rs 511.43 crore in financial year 2018-19.

Total revenue in FY20 was Rs 5,422.80 crore, up 4.53 percent. It was Rs 5,187.30 crore in FY19. Shares of the company were trading at Rs 641 per unit on the BSE, up 3.22 percent over the previous close.

Source: PTI

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