Chennai-based cement major Ramco Cements posted a 51.1% surge in consolidated net profit on Monday, which stood at Rs 215.92 crore for the fourth quarter ended March 31, 2021, supported by sales growth.

The company had posted a net profit of Rs 142.90 crore in January-March 2019-20. Total revenue of Ramco was up by 16.93% to Rs 1,641.53 crore during the quarter under review as against Rs 1,403.90 crore in the corresponding period of the previous fiscal year.

According to a statement by Ramco, during the quarter ended March 31, 2021, cement sales of the company stood at 3.21 million tonne (mt) as against 2.93 mt in the corresponding period of the previous year with a growth of 10%.

Total expenses were at Rs 1,296.05 crore in the quarter as against Rs 1,218.69 crore in March quarter of 2019-20.

For the fiscal year ended March 31, 2021, the net profit of Ramco Cements was up 29.63% at Rs 784.33 crore. It was Rs 605.07 crore in the previous year. However, total revenue was down to Rs 5,321.37 crore in 2020-21. It was Rs 5,422.80 crore in 2019-20.

Ramco told the media its ongoing capacity expansion program was delayed because of the non-availability of labourers due to Covid-19. However, the company does not have any material risk of non-fulfilment of obligations by any party arising out of existing contracts/agreements, the company said.

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