The Ramco Cements' consolidated net profit fell 13.2% to Rs 143.08 crore on 9.5% decline in net sales to Rs 1381.74 crore in Q4 March 2020 over Q4 March 2019.
Profit before tax (PBT) stood at Rs 185.21 crore in Q4 FY20, down by 24.1% from Rs 243.92 crore in Q4 FY19.
Current tax expenses fell 19% in the fourth quarter to Rs 58.91 crore from Rs 72.77 crore in the same period last year.
The company's net profit rose 18.3% to Rs 604.14 crore on 4.4% increase in net sales to Rs 5,285.42 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT was at Rs 792.24 crore in FY20, up by 10.3% from Rs 718.07 crore in FY19.
In view of the lock-down declared across the country by the Central/State Governments due to COVID-19 pandemic during second half of March 2020, the company's operations at all locations were adversely impacted. The lock-down due to COVID-19 is continuing with certain relaxations in FY 2020-21 and the company is continuing its operations with lower demand.
The company expects the demand for cement to get back to its normal levels, based on further relaxations that would be announced by the government, in the course of time.
"As per the current assessment of the company, there is no material impact on the carrying values of trade receivables, inventories and other financial or non-financial assets as at the reporting date. The company continues to closely monitor the developments in economic conditions and assess its impact", the cement maker said.
The Ramco Cements (TRCL) is a cement manufacturer and markets its products under the Ramco brand.
Shares of Ramco Cements rose 3.82% to Rs 644.70 on Friday.
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