JK Lakshmi Cement jumps after stellar Q4 results

JK Lakshmi Cement surged 5.9% to Rs 363.35 at 9:20 IST on BSE after net profit spurted 699.66% to Rs 48.38 crore on 29.09% rise in total income to Rs 769.35 crore in Q4 March 2016 over Q4 March 2015.

The announcement was made after market hours yesterday, 18 May 2016.

Meanwhile, the S&P BSE Sensex was down 89.65 points or 0.35% at 25,614.96.

On BSE, so far 10,000 shares were traded in the counter as against average daily volume of 3,791 shares in the past two weeks. The stock hit a high of Rs 368.80 and a low of Rs 353 so far during the day. The stock had hit a 52-week high of Rs 409.80 on 26 June 2015. The stock had hit a 52-week low of Rs 253 on 12 February 2016.

The small-cap company has equity capital of Rs 58.84 crore. Face value per share is Rs 5.

JK Lakshmi Cement said that company's steep growth in production and sales along with its relentless efforts to improve efficiency and cutting its operating cost has enabled the company to post profitability of Rs 30.51 crore at profit before tax (PBT) level in Q4 March 2016 after witnessing losses in the previous three quarters. The net profit spurted with the recognition of deferred tax asset in Q4 March 2016. However, the company said that its profitability was affected due to the additional burden of interest and depreciation with the commissioning of the first phase of the greenfield plant at Durg, besides lower prices.

JK Lakshmi Cement manufactures cement, which it sells under the brand name JK Lakshmi.

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