Ramco Cements reports Q3 standalone net profit at Rs 201.35 cr

Ramco Cements Ltd hasclocked standalone net profit for the quarter ending December31, 2020 at Rs 201.35 crore, the company said on Wednesday.

The city-based cement manufacturer has reportedstandalone net profit at Rs 94.80 crore during correspondingquarter previous year.

For the nine month period ending December 31,2020 standalone net profit grew to Rs 546.72 crore fromRs 454.92 crore recorded during same period last fiscal.

Total comprehensive income for the October-December 2020 quarter went up to Rs 202.86 crore from Rs 95.57crore.

For the nine month period ending December 31,2020 total comprehensive income stood at Rs 548.47 crore asagainst Rs 455.43 crore.

During the nine month period ending December 31,2020, the company said it incurred Rs 1,166 crore towardscapital expenditure for the expansion programme.

Capital expenditure to be incurred as on December31, 2020 was Rs 537 crore for the ongoing capacity expansion,the company said.

Cement sale volume for the quarter endingDecember 31, 2020 slipped to 26.14 lakh tonne as against 28.44lakh tonne.

The sale volume in the quarter was impacted dueto the extended and above normal monsoon in southern stateswhile the company witnessed good growth in eastern markets.

On wind power business, the company said duringthe quarter ending December 31, 2020 wind farms generated 3.50crore units as against 1.49 crore units in previouscorresponding period.

The income for the quarter ended December 31,2020 from the wind power business was Rs 8.50 crore as againstRs 1.80 crore.

During the quarter ending December 31, 2020 thecompany received Rs 65.30 crore from Tamil Nadu ElectricityBoard as against the outstanding of Rs 147.88 crore as onSeptember 30, 2020.

The company's subsidiary Ramco Windfarms Ltdregistered revenue of Rs 2.41 crore while EBIDTA was atRs 0.99 crore as against Rs 1.31 crore and Rs 0.07 crorerespectively, recorded in same period last year.

Revenue from operations and EBIDTA from anothersubsidiary Ramco Industrial and Technology Services Ltd stoodat Rs 9.59 crore and Rs 0.20 crore for the quarter underreview as against Rs 12.64 crore and Rs 1.76 crorerespectively.

On capital expenditure plans, the company said itexpects to commission the clinker unit of 1.5 MTPA along with9MW Waste Heat Recovery System in Jayanthipuram (AndhraPradesh) and 2.25 MTPA clinker unit in Kurnool during thefirst quarter of financial year 2021-22 despite the challengesfaced due to the pandemic.