Now Reading: Ramco Industries shares surge 13% as Q1 profit jumps 32%
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Ramco Industries shares surge 13% as Q1 profit jumps 32%
Ramco Industries shares soared over 13% to a high of Rs 383.40 on Wednesday after the company reported a 32% jump in net profit for the June quarter. The stock was trading…
The Story in Brief
Ramco Industries shares soared over 13% to a high of Rs 383.40 on Wednesday after the company reported a 32% jump in net profit for the June quarter. The stock was trading 10% higher at Rs 373.05 by 1:05 p.m. The cement and building products maker's quarterly performance beat market expectations, with net profit rising to Rs 35 crore from Rs 26.5 crore a year earlier. NDTV Profit reports the revenue also climbed, though specific figures were not detailed in the trading update.
The Indian Opinion
The stock market's instant reward for Ramco's profit jump ignores the bigger picture of a slowing economy. Construction-linked sectors must prove this growth is not a one-quarter blip driven by deferred demand. The question is not whether profits rose, but whether the company can sustain margins above the previous year's level for the next two quarters.
Source: ndtvprofit.com
This story was synthesised by AI from the source linked above.
