The Ramco Cements Ltd on January 29 reported a 3.03 per cent fall in consolidated net profit at Rs 94.60 crore for the third quarter ended December. The company had posted a net profit of Rs 97.56 crore in October-December quarter a year ago, The Ramco Cements said in a BSE filing.
Total income during the quarter under review rose 5.99 per cent to Rs 1,290 crore from Rs 1,217.07 crore in the year-ago period.
The company's total expenses rose 8.45 per cent to Rs 1,179.11 crore as against Rs 1,087.14 a year ago.
"During the current quarter, the company witnessed sluggish demand in its core markets coupled with pressure on prices due to active monsoon. Demand in eastern markets was more visible during the current quarter, but the prices, particularly in West Bengal, were very poor and the trend in January 2020 is positive with improvement in price," the company said in a statement.
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During the quarter, the company's sales volume increased 3.53 per cent to 28.44 lakh tonnes from 27.47 lakh tonnes in the year-ago period.Shares of The Ramco Cements on Wednesday settled 4.53 per cent lower at Rs 811.75 on the BSE.