Ramco Cements today reported a 28.35 per cent jump in standalone net profit to Rs 151.88 crore for the third quarter ended December 31, 2016 on higher sales.
The company had reported a net profit of Rs 118.33 crore in the corresponding period of the previous fiscal, Ramco Cements said in a BSE filing.
Total income from operations during the quarter under review went up by 18.07 per cent to Rs 1,111.29 crore, as against Rs 941.20 crore in the corresponding quarter of last fiscal.
Ramco Cements' sales were up 22.26 per cent to 19.88 lakh tonnes in the quarter compared with 16.26 MT in the year-ago period.
Total expenses of the company was up 16.98 per cent to Rs 882.99 crore during the quarter against Rs 754.79 crore a year ago.
In a separate filing, Ramco Cements informed the exchange that its board, in a meeting held today, approved the proposal to buy-back of equity shares "for an aggregate amount not exceeding Rs 180 crore.
"At the maximum buy-back price and buy-back size, the maximum number of equity shares bought back would be 25 lakh shares which is 1.05 per cent of the paid up equity shares," it said.
Shares of Ramco Cements were trading at Rs 680.00 on BSE, down 4.84 per cent from previous close.
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