Business

JK Lakshmi Cement Q2 net profit up 86.9% to Rs 93 cr

Updated : November 05, 2020 12:00 PM IST

JK Lakshmi Cement Ltd on Wednesday reported a 86.90 percent rise in consolidated net profit at Rs 92.93 crore for the second quarter ended September 30, helped by cost reduction. The company had posted a net profit of Rs 49.72 crore in July-September quarter a year ago, JK Lakshmi Cement said in a regulatory filing.

Revenue from operations rose 11.79 percent to Rs 1,131.74 crore during the quarter under review as against Rs 1,012.36 crore in the year-ago period.

"The company's concerted efforts to improve efficiencies, better product mix and reduction in logistic costs enabled the company to push its profitability up. Softening in pet coke prices helped the company to improve the margins," JK Lakshmi Cement said in a post-earnings statement. Total expenses declined 7.88 percent to Rs 1,015.65 crore as against Rs 941.45 crore in the year-ago quarter.

The company's subsidiary Udaipur Cement Works is expanding its cement capacity by 2.5 million tonnes, which is likely to be commissioned in October-December 2023, JK Lakshmi Cement Vice Chairman and Managing Director JK Vinita Singhania said.

On completion of this expansion, the consolidated capacity of JK Lakshmi Cement and Udaipur Cement Works will enhance to 16.4 million tonnes," she added.

JK Lakshmi Cement Q2 net profit up 86.9% to Rs 93 cr

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