JK Lakshmi Cement Q2 profit up at Rs 25 cr

JK Lakshmi Cement today posted a standalone net profit of Rs 24.91 crore for the quarter ended on September 30, 2016.
The company had posted a standalone net loss from ordinary activities after tax of Rs 8.38 crore in the corresponding quarter of previous fiscal, JK Lakshmi Cement said a filing to BSE.
Total income from operations increased to Rs 733.10 crore in the said quarter over Rs 723.30 croe in the year-ago period.
"Despite the quarter July-September 2016 witnessing an adverse impact on its production and sales due to intense monsoon in JK Lakshmi Cement Ltd (JKLC) market areas, its turnover was up at Rs 733.10 crore as against Rs 723.30," the company said in the statement.

With better control over the cost and lower pet coke prices, company reduced its costs resulting into higher operating profit which shot up to Rs 111.61 crore in July-September from Rs 80.83 crore in the corresponding quarter of previous fiscal, JKLC's Whole-Time Director Shailendra Chouksey said in the statement.
After providing interest and depreciation company's profit before tax (PBT) rose to Rs 23.33 crore in this quarter from PBT loses at a level of Rs 15.87 crore in the corresponding quarter of the previous year, the statement said.

During the six-month period of April 16 to September 16, production and sales grew by 12 per cent and 13 per cent respectively over the corresponding period of last year, Chouksey said.

"The company's Split Location Grinding unit at Surat (Gujarat) has been commissioned. Company's capacity now stands enhanced to 10 million tonnes. Company is also expanding its Durg cement plant capacity from the present 1.8 million tonnes to 2.7 million tonnes," JKLC Vice Chairperson and Managing DirectorVinita Singhania said.
The company's project under its subsidiary company Udaipur Cement Works Ltd is progressing satisfactorily and likely to be commissioned by December, Singhania added.