J K Lakshmi Cement Q2 net profit down 80% at Rs 10.30 cr

J K Lakshmi Cement's net profit for the July-September quarter fell by nearly 80% to Rs 10.30 crore on lower price amid subdued demand.

"There has been a negative demand of 3-4% in the North and Gujarat, where we operate. Lower demand then led to lower prices and realisation. These have led to the fall in net profit," company's Whole-time Director Shailendra Chouksey told PTI.

J K Lakshmi Cement, which has 5.3 million tonnes per annum capacity now, had clocked Rs 50.88 crore net profit in the corresponding quarter last fiscal.

Chouksey said the realisation of the company was down by 16% during the quarter despite improvement in various efficiency parameters like per unit power usage.

Total income of the company also dipped to Rs 448.87 crore from Rs 491.41 crore a year ago.

Expenses, on the other had rose to Rs 426.57 crore from Rs 411 crore a year earlier.