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Slack demand and pressure on prices have taken a toll on Ramco Cements, which has reported a 36 per cent drop in net profit during the first quarter of the current year. A press release from Ramco Cements said it has reported a net profit of ₹36.26 crore (₹68.85 crore) on a total income of ₹959.15 crore (₹987.18 crore) for the quarter ended June 30, 2014, on a standalone basis. The company is setting up a one-million-tonne grinding unit in Visakhapatnam, Andhra Pradesh, at a cost of ₹360 crore. On the BSE, the company’s shares closed marginally lower at ₹280.60 against the previous close of ₹282.45.
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