Ramco Cements experienced a decline in its stock price by over 3% after reporting disappointing Q2 earnings results. The stock is currently trading at Rs 882, reflecting a 3% decrease, and has seen a year-to-date drop of 13%. This performance is weaker compared to the Nifty 50 index, which has gained over 9% during the same period.
The stock has shown positive monthly returns from August through October. In the quarter ending September, Ramco Cements reported a significant decline in consolidated net profit, which dropped 31% quarter-on-quarter and 64% year-on-year to Rs 25.7 crore. Revenue also decreased, down 2.3% from the previous quarter and 12.7% year-on-year, totaling Rs 2,044 crore. The company attributed the decline in revenue to a 10% drop in cement prices and a 3% decrease in sales volume, primarily due to weak demand during the monsoon season.
Overall, Ramco Cements' stock price has been volatile, with a decline in Q2 earnings leading to a decrease in stock price. However, the company has seen positive monthly returns in recent months. The decline in consolidated net profit and revenue in the quarter ending September can be attributed to a drop in cement prices and sales volume. Despite these challenges, the company remains a key player in the cement industry.