Shares of Ramco Cements has dipped 6% to Rs 168 after reporting a sharp 86% year-on-year (yoy) fall in consolidated net profit at Rs 18.27 crore for the quarter ended September 3, 2013 (Q2) due to lower realization and higher raw material cost. The company had profit of Rs 133 crore in year ago quarter.
The company’s total income from operations has declined by 8.5% at Rs 905 crore during the reporting quarter compared to Rs. 994.73 crore a year ago.
Total expenses of the company have gone up to Rs 864 crore for the period from Rs 749 crore a year ago. This is mainly because of higher raw material, power and transportation costs.
The stock opened at Rs 178 and touched low of Rs 166 on NSE. A combined around 870,000 shares have change hands on the counter till 1400 hours on NSE and BSE.
The company’s total income from operations has declined by 8.5% at Rs 905 crore during the reporting quarter compared to Rs. 994.73 crore a year ago.
Total expenses of the company have gone up to Rs 864 crore for the period from Rs 749 crore a year ago. This is mainly because of higher raw material, power and transportation costs.
The stock opened at Rs 178 and touched low of Rs 166 on NSE. A combined around 870,000 shares have change hands on the counter till 1400 hours on NSE and BSE.