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Ramco Cements Ltd has reported a 51 per cent growth in its net profit at ₹165 crore for the fourth quarter ended March 31, 2019, compared with ₹109 crore in the year-ago period, helped by improved prices.
Revenue of the company grew 22 per cent at ₹1,527 crore against ₹1,251 crore in Q4 of the previous fiscal.
For the year ended March 31, 2019, the company’s net profit dropped to ₹506 crore compared with ₹557 crore in the previous fiscal, mainly due to poor prices during the first three quarters of the fiscal. The realisation for 2018-19 was subdued due to pressure on prices for most part of the year, besides an increase in transportation cost on the back of a 17 per cent increase in the average diesel price. Overall logistics cost remained high during the fiscal, according to a company statement.
The operating profit was lower at ₹1,065 crore compared with ₹1,136 crore in FY18. Revenues stood at ₹5,175 crore for FY19 against ₹4,443 crore in the previous year, on the back of a 19 per cent increase in cement sales at 11.12 million tonnes (MT) during the year.
The Board has recommended a dividend of ₹3 per share.
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