 "JK Lakshmi Cement hits record high as Q2 profit trebles")
JK Lakshmi Cement has rallied 5% to Rs 378 on National Stock Exchange (NSE) after reporting nearly three-fold jump in net profit at Rs 30.61 crore in September 2014 quarter (Q2), on back of improved volume and better realization. The company had profit of Rs 10.30 crore in the same quarter last fiscal.
Net sales of the company grew 13% to Rs 638 crore during the July-September quarter of the current fiscal from Rs 501 crore a year ago.
"These improved volumes and better realisation aided the company's operating profit to rise to Rs 90.34 crore in the July-September quarter against Rs 64.84 in the corresponding quarter of the previous year," the company said.
The stock opened at Rs 371 and touched a record high of Rs 383 on NSE. A combined 501,003 shares changed hands on the counter till 1220 hours on NSE and BSE.
Net sales of the company grew 13% to Rs 638 crore during the July-September quarter of the current fiscal from Rs 501 crore a year ago.
"These improved volumes and better realisation aided the company's operating profit to rise to Rs 90.34 crore in the July-September quarter against Rs 64.84 in the corresponding quarter of the previous year," the company said.
The stock opened at Rs 371 and touched a record high of Rs 383 on NSE. A combined 501,003 shares changed hands on the counter till 1220 hours on NSE and BSE.