New Delhi, May 18 (PTI) The Ramco Cements Ltd on Thursday reported a 27.33 per cent increase in its consolidated net profit at Rs 150.60 crore for the fourth quarter ended March 2023, driven by volume gains.

The company had posted a net profit of Rs 118.27 crore during the January-March quarter of the previous fiscal, The Ramco Cements said in a regulatory filing.

Also Read | MHADA Mumbai Board Lottery 2023: Registration Begins From July 18 For 4,083 Houses Up for Sale, Know Draw Result Date and How to Apply Online at lottery.mhada.gov.in.

Its sales jumped 50.71 per cent to Rs 2,558.68 crore during the quarter under review against Rs 1,697.66 crore in the corresponding period of the previous fiscal.

"During Q4 FY23, the sale of cement and dry mortar products is 4.70 million tons, compared to 3.23 million tons in the Q4 FY22 with an impressive volume growth of 46 per cent," the company said in its earning statement.

Also Read | Prices of Bikes, Scooters To Go Down? Automobile Dealers’ Body FADA Seeks Cut in GST on Two-Wheelers From 28% to 18%.

The Ramco Cements' total expenses rose 52.51 per cent to Rs 2,378.95 crore in Q4 FY23 from Rs 1,559.77 crore a year ago.

The total income of the Tamil Nadu-based company grew 50 per cent to Rs 2,583.57 crore.

For the fiscal ended March 2023, the company's net profit fell 64.31 per cent to Rs 314.52 crore. It had reported a net profit of Rs 881.48 crore in the year-ago period.

Its consolidated revenue from sales was Rs 8,052.28 crore in FY23, 36.54 per cent higher than the preceding fiscal year.

"While the average net realisable price of cement was flat during the year, the elevated prices of pet coke/coal have dented the margins," the company said.

Further, the transportation cost by rail has increased by 15 per cent due to the re-imposition of the busy season surcharge w.e.f. October 1, 2022, and the increase in diesel price by 3 per cent during FY23 have pushed up the inbound and outbound logistics costs.

Over the outlook, The Ramco Cements said the current demand for cement is good in IHB (individual-house-builder) as well as in infra segments.

"The cement demand in the medium term is expected to be resilient in view of Government's focus on infra spend, upcoming elections and forecast of normal monsoon for 2023," it said.

"The company expects an improvement in margins from Q2 of FY24 onwards," the company said.

Shares of The Ramco Cements Ltd on Thursday settled at Rs 782.20 apiece on BSE, down 0.76 per cent from the previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)