Ramco Cements Q2 Profit Moves Up To Rs 1,332 Crore
The profit after tax too moved up to Rs 172 crore from Rs 120 crore despite finance costs going up to Rs 15 crore from Rs 13 crore in the same period.
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Ramco Cements, the fifth largest cement producer in India, said on Wednesday its consolidated revenue in the second quarter of current fiscal year moved up to Rs 1,332 crore from Rs 1,196 crore in the corresponding period of last year.
The profit after tax too moved up to Rs 172 crore from Rs 120 crore despite finance costs going up to Rs 15 crore from Rs 13 crore in the same period. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased to Rs 308 crore in Q2 FY20 from Rs 259 crore in Q2 FY19. Ramco sold 27.24 lakh tonnes of cement during July to September compared to 24.69 lakh tonnes in the same period of last year.
"The company is making continuous efforts to optimise the supply chain efficiency," it said in a statement. "It has been constantly focussing on various cost reduction initiatives and improving productivity while maintaining the highest quality standards."
Ramco said the second unit cement grinding plant at Kolaghat in West Bengal started commercial production last month, doubling the capacity to two million tonnes per annum. The remaining on-going capacity expansion programme is progressing as per schedule but for the delays due to extended monsoon.
The company has so far incurred Rs 1,430 crore for the capacity expansion programme. It plans to meet the capital expenditure partly through internal accruals and partly through borrowings.
Ramco's total borrowings as on September 30 stood at Rs 2,441 crore, including current maturities of Rs 287 crore.