Ramco Cements Q3 profit jumps 28% YoY; board approves share buyback plan


NEW DELHI: The Ramco Cement on Tuesday reported a 28.35 per cent year-on-year rise in net profit at Rs 151.88 crore for the quarter ended December 31, 2016 against Rs 118.33 crore in the corresponding quarter last year.

The board of directors of the company also approved the proposal of buyback of its fully paid up equity shares for an aggregate amount not exceeding Rs 180 crore for a price not exceeding Rs 720 per equity share.

For Oct-Dec period, the company registered total income from operation of Rs 1,111.29 crore against Rs 941.20 crore in the same fiscal last year.

Shares of the company were trading 1.35 per cent up at Rs 704.90 around 1.50 pm (IST). The scrip opened at Rs 718.80 and touched a high and low of Rs 721.15 and Rs 701.50, respectively, in trade so far. Benchmark BSE Sensex was trading 55.29 points, or 0.19 per cent, up at 28,383.99.