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HomeMarket NewsStocks NewsRamco Cements Q2 Results | Net profit tumbles 75% to ₹26 crore, still beats estimates
Ramco Cements Q2 Results | The CNBC-TV18 poll had predicted a net loss of ₹10 crore for the quarter under review. Shares of Ramco Cements Ltd ended at ₹872.90, up by ₹6.80, or 0.79%, on the BSE.
Tamil Nadu-based Ramco Cements Ltd on Monday (November 11) reported a 74.7% year-on-year (YoY) slide in net profit at ₹25.6 crore for the second quarter that ended on September 30, 2024.
In the corresponding quarter of the previous fiscal, Ramco Cements posted a net profit of ₹101.3 crore, the company said in a regulatory filing. The CNBC-TV18 poll had predicted a net loss of ₹10 crore for the quarter under review.
The company's revenue from operations dipped 12.5% to ₹2,038.2 crore against ₹2,329.3 crore in the year-ago period. The CNBC-TV18 poll had predicted revenue of ₹2,055 crore for the quarter under review.
At the operating level, EBITDA was down 21.7% to ₹312.2 crore in the second quarter of this fiscal over ₹398.6 crore in Q2 of FY24. The CNBC-TV18 poll had predicted an EBITDA of ₹259 crore for the quarter under review.
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The EBITDA margin stood at 15.3% in the reporting quarter versus 17.1% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. The CNBC-TV18 poll had predicted a margin of 12.6% for the quarter under review.
In September this year, Ramco Cements announced an increase in its cement grinding capacity following de-bottlenecking activities at two of its plants. At the Kalavatala plant in Nandyal, Andhra Pradesh, capacity was increased from 1.5 million tonnes per annum (MTPA) to 2 MTPA, while the Valapady grinding unit in Salem, Tamil Nadu, saw a hike from 1.6 MTPA to 2 MTPA.
"At our Kalavatala Plant, Kolimigundla Mandal, Nandyal District, Andhra Pradesh, we have carried out de-bottlenecking of cement grinding capacity resulting in an increase of capacity from 1.5 MTPA to 2 MTPA," the company said in a stock exchange filing.
"In addition, at our Valapady Grinding Unit, Salem District, Tamil Nadu, we have carried out de-bottlenecking of cement grinding capacity resulting in an increase of capacity from 1.6 MTPA to 2 MTPA," it said.
The results came after the close of the market hours. Shares of Ramco Cements Ltd ended at ₹872.90, up by ₹6.80, or 0.79%, on the BSE.
(Edited by : Shoma Bhattacharjee)
