JK Lakshmi Cement’s net declines

JK Lakshmi Cement’s net declines
Published: 20 October 2008

JK Lakshmi Cement today announced a standalone net profit of Rs 26.88 crore for the second quarter of the current fiscal, a 63.42 per cent decline over the corresponding period a year ago.

The company had a standalone net profit of Rs 73.50 crore in the September quarter last financial year, JK Lakshmi Cement said in a filing to the Bombay Stock Exchange.

The standalone total income of the company rose to Rs 293.75 crore in the latest quarter, from Rs 267.79 crore in a year-ago period.

The standalone net profit of the company dropped to Rs 65.57 crore during the half-yearly period ended September 31, 2008, from Rs 141.96 crore in the same period previous fiscal.

The standalone total income jumped to Rs 563.50 crore in the current six-month period, from Rs 534.49 crore in the same period last year.

Though production and sales of the company increased by 10-12 per cent during the period under review, profitability declined due to steep rise in cost of fuel by 41 per cent, it said.