Ramco Cements’ profit down as fuel costs mount
Ramco Cements’ earnings and profits fell in the six months to the end of September 2018 as fuel and raw material costs rose. Its net profit after tax fell by 26% year-on-year to US$32.6m from US$44.2m in the same period in September 2017. Revenue rose by 15% to US$329m and sales volumes of cement rose by 18% to 50.8Mt. The cement producer said that sales in Kerala had been adversely affected by bad weather in the most recent quarter.
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