Ramco Cements Q4 net rises 118 %

CHENNAI,P. NARASIMHAN:Ramco Cements’ consolidated net profit more than doubled to Rs.203.20 crore for the quarter ended March 31, 2016 due to better price realisation and paring of debts.

The company reported a net profit of Rs.93.4 crore in the year-earlier period, according to a company statement. It posted a total revenue of Rs.1,018.17 crore during the quarter compared with Rs.999.57 crore in the year-earlier period.

On a standalone basis, it had reported a net profit of Rs.204.32 crore (Rs.93.42 crore) and revenue of Rs.1,017.68 crore (Rs.999.19 crore) for the quarter under review. Ramco Cements reduced its borrowings by about Rs.500 crore. In the current year thus far, the borrowings have been reduced by a further Rs.150 crore, Besides repaying borrowings, the company also engaged in replacing bank borrowings by debentures.

These would pare the interest cost substantially this year. — K. T. Jagannathan

Ramco Systems

Ramco Systems, a global enterprise software company focusing on enterprise cloud platform, products and services, reported global consolidated income of $18.57 million (Rs.124.7 crores) for the fourth quarter ended March 31, 2016.

The revenue showed a growth of 12 per cent year-on-year in dollar terms and 22 per cent year-on-year on constant currency.

The net profit after tax for the quarter, amounted to $1.55m (Rs.10.4 crore). (Constant Currency is measured by applying the exchange rates of the corresponding periods of the last financial year)

For the year ended March 31, 2016, global income was $69.97 million (Rs.454 crores). The net profit after tax stood at $6.03m (Rs.39.2 crore). Revenue from markets outside India stood at 74 per cent compared to 72 per cent the previous year.

Commenting on the results, P. R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems, said, “The last few years have helped us leap ahead and gain global recognition for bringing latest Innovation into the Enterprise applications market. The results of this focus led to the launch of our first Innovation lab in Singapore co-funded by Singapore Government and anchor partner Air France Industries KLM E&M. Our vision is to be known as an innovative, disruptive enterprise software provider, globally.” — P. Narasimhan

Karnataka Bank

Karnataka Bank has reported 20.5 per cent decline in its net profit which stood at Rs.106.79 crore for the quarter ended March 31,2016 against Rs.134.42 crore in the year-earlier period. Total income of the bank has improved by 10.7 per cent to Rs.1,447.68 crore from Rs.1,308.04 crore. Net interest income rose 23.5 per cent to Rs.359.73 crore from Rs.291.32 crore. For the year ended March 31, 2016, the bank has reported 8 per cent decline in its net profit at Rs.415.29 crore in the 12 months ended March 31, 2016 against Rs.451.45crore in the year-earlier period. The operating profit has improved by 10.5 per cent to Rs.854.53 crore from Rs.773.38 crore.

The gross income of the bank increased by 6.3 per cent to Rs.5,535.07 crore from Rs.5,205.41 crore. Net interest income has risen by 11.5 per cent on a year-on-year basis to Rs.1,302.87 crore from Rs.1,168.85 crore.

The business turnover has touched Rs.84,391 crore as on March 31, 2016, a growth of 8.63 per cent, according to a statement from the bank.