Indian cement company, JK Lakshmi Cement (JKLC), has reported increased production and sales for 4Q16, despite a downturn in demand caused by the Indian government policy of demonetisation.
According to a company press release, JKLC’s cement production grew by 6% year on year, while sales were up 4% year on year. Combined with better cost control, the saw the company post a profit of INR76.8 million (US$ 1.14 million), compared to a loss of INR11.6 million (US$0.17 million) in 4Q15.
For the nine months between April and December 2016, the company reported a 10% rise in production and sales.
The company also announced an expansion of its production capacity in Durg in the state of Chhattisgahr from 1.8 million t to 2.7 million t. The project is on track for completion in March 2017. A project at JKLC’s subsidiary, UCWL, is also likely to be operational by March.
The two projects will see the company’s total capacity increase to 12. 5 million t at the end of the current financial year.
Read the article online at: https://www.worldcement.com/indian-subcontinent/06022017/jklc-announce-higher-sales-in-4q16/