JK Lakshmi Cement jumps to record high on blockbuster Q2 outcome

JK Lakshmi Cement gained 4.25% to Rs 375.10 at 10:31 IST on BSE after net profit surged 197.18% to Rs 30.61 crore on 25.43% increase in total income to Rs 573.77 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced after trading hours yesterday, 30 October 2014.

Meanwhile, the S&P BSE Sensex was up 262.67 points or 0.96% at 27,609

On BSE, so far 63,775 shares were traded in the counter as against average daily volume of 78,732 shares in the past one quarter.

The stock scaled a record high of Rs 383.05 in intraday trade today, 31 October 2014. The stock hit a low of Rs 370 so far during the day. The stock hit a 52-week low of Rs 64 on 30 January 2014.

The stock had underperformed the market over the past one month till 30 October 2014, rising 0.91% compared with 2.69% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, surging 43.66% as against Sensex's 4.83% rise.

The mid-cap company has equity capital of Rs 58.83 crore. Face value per share is Rs 5.

JK Lakshmi Cement reported growth of 11% and 13% in production and sales respectively in Q2 September 2014 over Q2 September 2013. Improved volumes and better realization aided the company's operating profit to rise to Rs 90.34 crore in Q2 September 2014 as against Rs 64.84 in Q2 September 2013.

JK Lakshmi Cement said that the company as a matter of abundant caution provided Rs 5 crore as an exceptional item towards the demand notice of the Sales Tax department in Q2 September 2014. The company believes it has a strong case and the matter would be decided in its favour, it added.

JK Lakshmi Cement said that the company continues to improve its efficiency quarter after quarter and it has achieved significant improvement in its fuel consumption which went down to 706 K.Ca/Kg of clinker in Q2 September 2014 as against 729 K.Cal/Kg of clinker in Q2 September 2013.

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

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