JK Lakshmi Cement has reported a net loss of Rs.23.48 crore for the June quarter, attributed to the sluggish market and increased costs. Income fell 2% to Rs.590.75 crore, from Rs.600.42 crore in the June 2014 quarter, while expenses were up 12% to Rs.579.27 crore. Gross sales fell 0.88% to Rs.663.03 crore.
The company blamed ‘subdued market conditions’, which have affected cement prices by about Rs.30 – 35 per bag. Also of note were the additional costs associated with the commissioning of the first phase of the company’s greenfield plant in Durg, which took place in March 2015.
The company has made cost savings, however, including bringing down coal consumption at its Sirohi plant to 685 kcal/kg of clinker from 714 kcal/kg clinker in the same quarter last year.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/12082015/jk-lakshmi-cement-reports-june-quarter-loss-310/
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