JK Lakshmi Cement's Q1 net profit falls marginally

JK Lakshmi Cement on Thursday reported a marginal fall of 1.19 per cent in its standalone net profit for the first, April-June quarter of 2017-18.

According to the company, its net profit stood at Rs 28.30 crore from Rs 28.64 crore reported in the corresponding quarter of last fiscal.

The company's total income was up by 14.86 per cent to Rs 1,013.37 crore in Q1 of the current fiscal as compared with Rs 882.23 crore in the corresponding period of previous fiscal.

During the April-June quarter, the company improved its power consumption to 72 kwh/mt from 73 kwh/mt in April-June 2016. It has further brought down fuel consumption from 701 kcal/kg in April-June 2016 to 696 kcal/kg in April-June 2017.

"To bring down power cost, the company is installing 7.5MW waste heat recovery power plant in Durg which is likely to be commissioned in October this year," it said in a statement.

The company is further putting up a 20MW thermal power plant in Durg, which will come into stream in third quarter of 2018-19.

"With good monsoon, Goods and Services Tax's smooth implementation and government's thrust on Housing for All, the company feels cement demand will pick up in the second-half of the fiscal," it said.

--IANS

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