JK Lakshmi Cement Q1 Net up nearly 3-fold on higher sales

JK Lakshmi Cement today reported nearly three-fold rise in first quarter net profit at Rs 40.46 crore on higher sales and better margins.
The cement firm, which has 6.6 million tonnes per annum (mtpa) installed production capacity now, had clocked Rs 15.70 crore net profit in the corresponding quarter last fiscal, it said in a statement.
Turnover of the company went up by 31 per cent to Rs 669 crore during the April-June 2014 quarter as against Rs 511 crore in the corresponding quarter last fiscal.
"This increase has been backed by a growth of 14 per cent and 18 per cent in production and sales volume, respectively," the company said.

Operating profit of the company during the quarter stood at Rs 116 crore representing an increase of 58 per cent over the corresponding quarter's figure of Rs 73.24 crore. This is mainly due to better price of the material.
The greenfield project at Durg in Chhattisgarh is making satisfactory progress. The 2.7 mtpa plant is expected to be commissioned next quarter, it said.