JK Lakshmi Cement posts 28.72 crore net profit in Q1

JK Lakshmi Cement on Thursday reported Rs 28.72 crore net profit in the quarter ended June 30 as compared to a net loss of Rs 24.07 crore in the corresponding period last year.

"This healthy jump in our company's profitability is primarily due to improved efficiencies, higher volume and realization and better cost control," a said company's Vice Chairperson and Managing Director Vinita Singhania.

The company's operating profit rose more than double to Rs 127.92 crore in this quarter, a growth of 133 per cent over Rs 54.94 crore in the year-ago period.

Its turnover grew 31 per cent turnover to Rs 871.82 crore in the quarter as against Rs 663.03 crore in the corresponding period last year.

"Surat Grinding unit has started its trial runs and the work on rehabilitation of Udaipur cement plant under its subsidiary UCWL is progressing satisfactorily and we hope to commence trial production by December end 2016. The work on the grinding unit in Odisha is also in progress," said cement producer's Wholetime Director Shailendra Choukey.

--IANS

bdc/ahm/vm