India’s JK Lakshmi has reported a 197% rise in net profit for the quarter ending 30 September (2Q15). Profit reached Rs.30.61 crore against Rs.10.30 crore in the same quarter of the last fiscal. Cement production was up 11% and sales for the quarter were 27% higher at Rs.638.35 crore compared to Rs.500.86 crore in 2Q14. As a result, operating profit rose to Rs.90.34 crore from Rs.64.84 crore in the same quarter last year.
This continues the company’s success following a more than 150% increase in net profit for the June quarter, when total income rose by more than 30%. At that time the company said it had been working on improving efficiency and had succeeded in reducing fuel consumption and power costs.
India’s cement industry has been showing promising signs of growth since the national elections earlier this year.
Edited from various sources by Katherine Guenioui
Sources: