New Delhi: Ramco Cements on Wednesday reported a 57 per cent growth in standalone net profit at Rs 155.93 crore for the quarter ended June 30, helped by better sales and cost optimisation measures.
The firm had clocked a net profit of Rs 99.24 crore for the corresponding period a year ago, it said in a filing to the BSE.
Total standalone income rose 3 per cent to Rs 972.09 crore in the quarter under review as against Rs 947.42 crore in the year-ago period.
Total expenses were lower at Rs 734.20 crore compared to Rs 760.40 crore a year ago.
"There has been an improvement in the off-take of cement by about 15 per cent during the quarter under review compared to the corresponding quarter of the previous year," the company said.
Its domestic sales were higher at 20.45 lakh tonnes (LT) during the June quarter this fiscal year against 17.82 LT in the year-ago period. Exports were flat at 0.31 LT.
The company continued to focus on cost reduction measures and reduced the operating and logistics costs significantly and is confident of sustaining it in the coming quarters also, it added.
Ramco said it has reduced the borrowings by around Rs 312 crore out of internal accruals and reduction in working capital during the quarter under review.
On its wind farm division, the firm said for the quarter ended June 30, 2016, the division has generated 706 lakh units compared to 383 lakh units during the corresponding quarter of the previous year.
The firm had clocked a net profit of Rs 99.24 crore for the corresponding period a year ago, it said in a filing to the BSE.
Total standalone income rose 3 per cent to Rs 972.09 crore in the quarter under review as against Rs 947.42 crore in the year-ago period.
Total expenses were lower at Rs 734.20 crore compared to Rs 760.40 crore a year ago.
"There has been an improvement in the off-take of cement by about 15 per cent during the quarter under review compared to the corresponding quarter of the previous year," the company said.
Its domestic sales were higher at 20.45 lakh tonnes (LT) during the June quarter this fiscal year against 17.82 LT in the year-ago period. Exports were flat at 0.31 LT.
The company continued to focus on cost reduction measures and reduced the operating and logistics costs significantly and is confident of sustaining it in the coming quarters also, it added.
Ramco said it has reduced the borrowings by around Rs 312 crore out of internal accruals and reduction in working capital during the quarter under review.
On its wind farm division, the firm said for the quarter ended June 30, 2016, the division has generated 706 lakh units compared to 383 lakh units during the corresponding quarter of the previous year.
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