JK Lakshmi Cement second quarter net profit dips 6% to Rs 87 crore

NEW DELHI: JK Lakshmi Cement Ltd on Friday reported a 6.06 per cent decline in consolidated net profit for the September quarter at Rs 87.29 crore, hit by higher input costs.

The company had posted a profit of Rs 92.93 crore in the July-September period a year ago, JK Lakshmi Cement said in a regulatory filing.

Revenue from operations slipped 6.80 per cent to Rs 1,208.80 crore from Rs 1,131.74 crore in the year-ago period.

“As a result of a steep increase in prices of Petcoke & Diesel, the cost soared considerably which affected the profitability adversely.

“Company’s volumes also got impacted due to transporters strike in Chhattisgarh plant which affected our East despatches for nearly 15 days in this quarter,” JK Lakshmi Cement said in a post-earnings statement.

The reduced volumes and increased costs brought down the EBIDTA to Rs 178.88 crore in the July-September quarter from Rs 205. 05 crore a year ago.

Total expenses were at Rs 1,105.46 crore, as against Rs 1,015.65 crore earlier.

Shares of JK Lakshmi Cement on Friday settled at Rs 614.55 on BSE, up 0.64 per cent from the previous close.

Source: Press Trust of India

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