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Ramco Cements This fall internet dips 42% on sharp rise in gasoline costs

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The board declared a dividend of ₹3 per share.

The board declared a dividend of ₹3 per share.

The Ramco Cements Ltd. has posted a 42% drop in its standalone internet revenue for the fourth quarter ended March to ₹124 crore following a pointy enhance in gasoline costs and weak cement costs.

Income from operations grew by 4.5% to ₹1,698 crore. Cement gross sales contracted by 1% to 31.92 lakh tonnes.

In the course of the interval below assessment, diesel costs on a median elevated by 20%, pet coke by 89% and costs of imported coal from Indonesia by 138%, it mentioned in a regulatory submitting.

Stating that the business was not in a position to go the complete price to the purchasers, the corporate mentioned that since gasoline costs peaked throughout FY22, the ability and gasoline price per tonne of cement rose to ₹1,257 from ₹797.

The corporate, in the meantime, opted for decrease tax price for FY22. Consequently, it was entitled to write-back the surplus deferred tax provision of ₹306 crore. Therefore, the online revenue was increased by ₹306 crore.

The corporate proposes to increase the capability of its dry combine merchandise in Tamil Nadu, Odisha and Andhra Pradesh to supply high-value merchandise. The 2 items in Tamil Nadu will likely be commissioned in FY23 and the remaining two items in AP & Odisha by FY24.

The board declared a dividend of ₹3 per share.

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