Ramco Cements sees 4% rise in revenue

Ramco Cements sees 4% rise in revenue
05 February 2021

India’s Ramco Cements has reported a four per cent YoY rise in revenue from operations to INR13.24bn (US$181.55m) for the December 2020 quarter. Gross earnings advanced 91 per cent YoY to INR4.03bn.

However, cement sales declined 7.1 per cent to 2.6Mt from 2.8Mt in the 3QFY19-20. "The sales volume in the current quarter was impacted due to extended and above normal monsoon in Tamil Nadu, Kerala, Karnataka, AP and Telangana," said the company. Cement prices were also under pressure in all of its markets.

The company also noted its intention to commission a 1.5Mta clinker unit and 9MW WHR system in Jayanthipuram, alongside another 2.25Mta clinker unit in Kurnool, during the 1QFY21-22. A 1Mta cement grinding facility, 12MW WHR unit and a 18MW thermal power plant in Kurnool are also expected to be commissioned during the FY21-22.

Published under Cement News