JK Lakshmi Cement reports 37% rise in net profit

JK Lakshmi Cement reports 37% rise in net profit
21 May 2021

India’s JK Lakshmi Cement has reported a 37 per cent YoY rise in standalone net profit to INR1.38bn (US$18.99m) for the quarter ending 31 March 2021, compared with INR1.01bn in the year-ago period. Revenue from operations also advanced 24.6 per cent YoY to INR13.22bn, while the EBITDA margin climbed to 20.3 per cent from 19 per cent in the 4QFY19-20.

"Despite a hike in the prices of inputs like petcoke, diesel, fly ash and gypsum, JKLC has improved its profitability on account of substantially higher volumes, higher realisations, improved efficiency, improved product mix etc," said the company in a statement.

Consolidated net profit for the full FY20-21 period increased 66.5 per cent to INR4.21bn from INR2.53bn in the previous fiscal. Revenue from operations was up 8.3 per cent YoY to INR47.27bn from INR43.64bn.

"This performance is achieved during a pandemic period when we lost nearly 55 days of production and 40-45 days of sales. It is greatly satisfying and speaks greatly of Team JKLC's passion and commitment," said the company's vice chairman and managing director, Vinita Singhania.

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