JK Lakshmi Cement 2Q net profit up 13%, India

JK Lakshmi Cement 2Q net profit up 13%, India
Published: 14 December 2011

JK Lakshmi Cement today reported 12.67 per cent rise in net profit at INR6.49 crore for the quarter ended September 30.

The company had reported Rs 5.76 crore net profit in the July-September quarter of last fiscal, its Whole-Time Director Shailendra Chouksey told reporters here.

Its net sales grew to Rs 354.13 crore from Rs 266 crore a year ago, buoyed by rising sales that stood at 11.27 lakh tonnes during this period from 9.45 lakh tonnes a year-ago.

Chouksey said that though sales were up and cement prices were better during the July-September quarter of this fiscal from the year-ago period, they did not reflect the bottomline due to higher raw material and freight costs.

The company expenditure in the July-September quarter rose to Rs 338.54 crore over Rs 256.88 crore in the year ago period. Around Rs 124 crore were spent on raw material and freight during the reporting quarter.

Chouksey, however, said the performance of the company would improve from the October-December quarter onwards as cement price was likely to go up and demand for the building material would also pick up following the lapse of the lean monsoon period.