Ramco Cements, formerly Madras Cements, has reported a growth of 28.35 % in its net profit after taxes (PAT) at Rs 151.88 crore for the October-December quarter of 2016, helped by reduced operating cost and improvement in the off-take of cement. 

The flagship company of the Ramco Group had posted the net profit of Rs 118.33 crore in the corresponding quarter of previous fiscal, said Ramco Cements in a filing to BSE on Tuesday. The total revenue of Chennai-based company rose by 18 % to Rs 1,113.14 crore in Q3 FY17 from Rs 943.04 crore in Q3 FY16. 

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In the quarter under review, the operating income of the company (EBITDA) climbed by 15.67 % to Rs 296.29 crore from Rs 256.14 crore in the same period last year. In a separate release, the company said that its board has approved the proposal of buyback of its fully paid up equity shares for an aggregate amount not exceeding Rs 180 crores. Meanwhile, shares of company were trading at Rs 680.00 apiece, down 4.84%, from previous close on the BSE.