The Ramco Cements Ltd has posted a net profit of Rs 117.7 crore for the quarter ended December 31, 2015 as compared to Rs 22.9 crore in corresponding month last year. Total income has increased to Rs 822.7 crore from Rs 817.7 crore year-on-year. Company?s total domestic sale during the quarter was 15.91 lakh tonnes as against 16.74 lakh tonnes, while export sales stood at 0.35 lakh tonnes as against 0.44 lakh tonnes.
The sale of cement in Tamil Nadu was affected during the third quarter due to record rain and consequential inundation in many parts, said the company.
However, the reduction in operating cost was partly offset due to increase in royalty of limestone from Rs 63 per tonne to Rs 83 per tonne from September 2014, Contribution to District Mineral Foundation as per Mines and Minerals (Development and Regulation) Amendment Act, 2015 has impacted on cost of cement.
The company has reduced the borrowings by around Rs 440 crore out of internal accurals and reduction in the current assets during the current year.