 "Ramco Cements Q4 profit up by 118 %")
Total Income has increased to Rs 1017.68 crore for the quarter ended March 31, 2016, from Rs 999.1 9 crore for the quarter ended March 31, 2015.
AV Dharmakrishnan, Chief Executive Officer, The Ramco Cements, said there has been improvement in the off-take of cement during the fourth quarter, compared to the first three quarters. The trend continued in the first two months of the current year as well.
During the fourth quarter, domestic sales was 20.43 lakh tonnes, compared with 18.18 lakh tonnes, while export sales dropped to 0.42 lakh tonnes from 0.62 lakh tonnes. Total sales rose to 20.85 lakh tonnes from 18.80 lakh tonnes.
He said prices in key southern markets were slightly low, but the company could offset it by focussing on cost reduction measures and reducing operating cost significantly and is confident that it would continue to do so.
He said the company has reduced borrowings by around Rs 500 crore out of internal accruals and the reduction in current assets during the year under review. Further in 2016-17, borrowings have been further reduced by around Rs 150 crore.
While one side interest out go was reduced, cost of loan also dropped to 8.1% from 10%.
He said the company hopes for better quarters going forward as demand will increase in Tamil Nadu after the new government takes over.