JK Lakshmi Cement posts Q3 net loss of Rs 3.67 crore

JK Lakshmi Cement today reported a net loss of Rs 3.67 crore for the December quarter hit by interest and depreciation costs in commissioning of Durg plant and sharp fall in sales realisation.
The firm had clocked a net profit of Rs 18.48 crore in the year-ago period, it said in a BSE filing.
Total income of the firm rose to Rs 664 crore in the October-December quarter this fiscal from Rs 562.63 crore during the same quarter in 2014-15.
Its total expenses rose to Rs 623.29 crore from Rs 508.61 crore during the quarter under review.
On the loss suffered during the December quarter, the firm said, "Profitability suffered due to additional burden of interest and depreciation on account of commissioning of first phase of company's greenfield cement plant at Durg in March 2015."

However, company has narrowed down its loss at PBT (profit before tax) level to Rs 9 crore in October-December this fiscal as against a loss of Rs 22.10 crore in July-September and Rs 22.18 crore in the corresponding quarter of the previous year.

The company's losses at PAT level dropped to Rs 3.67 crore as against losses of Rs 14.95 crore incurred in the previous quarter (July-September 2015-16).
Company continues to improve its efficiency parameters and coal consumption improved to 700 K Cal/Kg of Clinker.
The work on company's two upcoming grinding unit projects in Gujarat and Odisha is progressing satisfactorily, it said.

The work at Udaipur Unit, the subsidiary company, is also progressing as per schedule, it added.