Ramco Cements (Ramco) has reported another strong quarter with EBITDA/t at Rs 1,230 (vs estimated 1,229/t). Strong pricing (Rs 5,021/t, 18.5% YoY, -1.9% QoQ) continues to drive profitability even as volumes shrank for the 4th straight quarter (1.18 mT, -14.8% YoY).