Ramco Cements slips over 2.5% as Q1 PBT drops 43% to Rs 157.5 crore

Revenue dropped 24 per cent YoY to Rs 1,056.79 crore from Rs 1,396.82 crore. (Photo: Shutterstock)
Ramco Cements shares declined over 2.7 per cent on the BSE on Friday after the company reported a profit before tax (PBT) of Rs 157.50 crore for the quarter ended June 30, 2020, down 43 per cent against Rs 279.93 crore profit in the year-ago period. Revenue dropped 24 per cent YoY to Rs 1,056.79 crore from Rs 1,396.82 crore.

At 02:07 pm, the stock was trading over 2 per cent lower at Rs 686.45 on the BSE. In comparison, the benchmark S&P BSE Sensex was trading nearly a per cent lower at 37,957 levels. 

"The profitability for the current quarter was impacted due to Covid-19. EBITDA has come down by 27 per cent during the current quarter mainly due to drop in sales volume. EBIDTA for the quarter under review is Rs 270.07 crore as against Rs 367.48 crore during the previous corresponding period. READ MORE

The company said the progress of the ongoing capex programme has been delayed due to Covid-19. The company has invested Rs 257 crore during the quarter ended June 30, 2020 towards total capex including for the ongoing capacity expansion programme.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel