JK Lakshmi Cement posts net Q2 profit of Rs 25 cr

JK Lakshmi Cement posts net Q2 profit of Rs 25 cr

JK Lakshmi Cement has posted a standalone net profit of Rs 24.91 crore for the quarter ended September 30, 2016. The company had posted a standalone net loss from ordinary activities after tax of Rs 8.38 crore in the corresponding quarter of previous fiscal, JK Lakshmi Cement said a filing to the BSE.
Total income from operations increased to Rs 733.10 crore in the said quarter over Rs 723.30 crore in the year-ago period.
"Despite the quarter July-September 2016 witnessing an adverse impact on its production and sales due to intense monsoon in JK Lakshmi Cement Ltd (JKLC) market areas, its turnover was up at Rs 733.10 crore as against Rs 723.30 crore," the company said in the statement.
With better control over the cost and lower pet coke prices, the company reduced its costs resulting in higher operating profit which shot up to Rs 111.61 crore in July-September from Rs 80.83 crore in the corresponding quarter of the previous fiscal.
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