JK Lakshmi Cement reports surge in net profit

India’s JK Lakshmi Cement reported an increase of 157.7% in net profit for the June quarter, reaching Rs.40.46 crore. Total income rose 31.1% to Rs.602.92 crore as production increased. Sales volumes grew 18% in the quarter, and cement prices reportedly grew by around 5% from the previous quarter, averaging Rs.316 per 50 kg bag in the quarter. Operating profit rose to Rs.115.98 crore, a 58% y/y. The company said it has been working towards improving efficiency and has brought fuel consumption down to 715 kcal/kg of clinker. Power and fuel costs as a percentage of sales were at 20% this quarter, down from 22.6% in the same quarter last year.

JK Lakshmi Cement is in the process of building a 27 lakh t greenfield plant in Chhatisgarh, due for commissioning in the final quarter of this year.

Edited from various sources by Katherine Guenioui

Read the article online at: https://www.worldcement.com/asia-pacific-rim/28072014/jk-lakshmi-cement-reports-surge-in-net-profit-181/