The Ramco Cements' net profit falls 40% to Rs 117 cr for Q1Fy21

New Delhi: The Ramco Cements Ltd’s consolidated net profit declined 40 percent to Rs 117 crore for the first quarter of the current fiscal as compared to Rs 194 crore in the corresponding quarter of the previous fiscal.

The consolidated total revenues fell 24 percent to Rs 1,056 crore for the first quarter of the current fiscal as compared to Rs 1,396 crore in the corresponding quarter of the previous fiscal, the company said in a regulatory filing. 

The sale of cement by the company stood at 1.94 million tons in the latest quarter as compared to 2.70 million tons in the corresponding quarter of previous fiscal. The sale was impacted due to the lockdown.  

The company, which is also into wind power, generated 6.11 crore units in the latest quarter as compared to 7.82 crore units in the corresponding quarter of previous fiscal. The income from the wind power business stood at Rs 16.6 crore in the latest quarter as compared to Rs 21.2 crore in the corresponding quarter of the previous fiscal.

The operating expenses stood at Rs 5.47 crore in the latest quarter as compared to 5 crore in the corresponding quarter of previous fiscal. 

The company reduced its borrowings by Rs 180 crore in the latest quarter. This was achieved through tightening of its working capital after incurring capex of Rs 257 crore. The company's gross debt stood at Rs 2,844 crore as on 30 June 2020.

The ongoing capex rollout is delayed because of COVID-19. The railway siding in Kolaghat is likely to be operational in September this year. The grinding plant of capacity of 1 MTPA next to railway siding in Odisha is likely to be commissioned even September this year.

In Jayanthipuram, out of 27 MW of proposed WHRS, units of 9 MW each are likely to be commissioned on or before September this year December this year respectively. Clinkering unit of 1.5 MTPA next to 9 MW WHRS in Jayanthipuram and 2.25 MTPA clinkering unit in Kurnool is likely to be completed before March 20221.

 

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