Spurred by higher sales volume, 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 INR5.76 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 INR354.13 crore from INR 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 INR338.54 crore over INR256.88 crore in the year ago period.
Around INR124 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.