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HomeMarket NewsRamco Cements commissions waste heat recovery system of 8 MW at Ramasamy Raja Nagar plant
Ramco Cements and other cement names were also in focus on Thursday as the GST council approved cutting the GST rate on cement down to 18% from 28% currently, confirming a CNBC-TV18 newsbreak. The new rates will be applicable from September 22.
Ramco Cements Ltd. on Thursday, September 4, said it has commissioned a waste heat recovery system of 8 MW capacity at its Ramasamy Raja Nagar cement plant.
With this, the overall waste heat power generation in Ramasamy Raja Nagar has gone up from 2 mega watt (MW) to 10 MW, the company said. Ramco Cements' overall waste heat power generation capacity has gone up from 45.15 MW to 53.15 MW, it added.
Ramco Cements and other cement names were also in focus on Thursday as the GST council approved cutting the GST rate on cement down to 18% from 28% currently, confirming a CNBC-TV18 newsbreak. The new rates will be applicable from September 22.
Ramco Cements reported a net profit of ₹84.5 crore in the first quarter compared to ₹36.5 crore in the previous year.
Its revenue declined 0.9% to ₹2,074 crore from ₹2,093 crore in the first quarter last fiscal.
The company's earnings before interest, taxes, depreciation and amortisation increased 24.5% to ₹397.9 crore in the June quarter from ₹319.6 crore last year.
Its margin expanded to 19.1% from 15.3% in the year-ago period.
Shares of Ramco Cements were trading 0.4% up at ₹1,088.9 apiece around 1.55 pm on Thursday. The stock has gained 12.7% this year, so far.
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