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Increased offtake of cement and control on costs have contributed to a strong performance by Ramco Cements for the second quarter of the current year.
The company has reported a 46 per cent growth in net profit in the second quarter compared with the previous comparable quarter.
The net profit was ₹207 crore (₹142.18 crore) on a net revenue of ₹1021.66 crore (₹889.57 crore) for the quarter ended September 30, 2016.
Interest costs have dropped to ₹28.16 crore (₹45.61 crore).
Operating costs are down significantly and can be sustained in the coming quarters, borrowings have been brought by about ₹351 crore in the current half year out of internal accruals and stocks of fuel have been built which protect it from pet coke price spiral, said AV Dharmakrishnan, CEO, Ramco Cements.
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