JK Lakshmi Cement Q4 net profit jumps 62% to Rs 34 crore

JK Lakshmi Cement today reported 62.30 per cent surge in its standalone net profit to Rs 33.84 crore for the fourth quarter ended March 31, 2018.

The company had posted a net profit of Rs 20.85 crore in the January-March period a year ago, JK Lakshmi Cement said in a BSE filing.

JK Lakshmi Cement's total income during the quarter under review stood at Rs 923.32 crore. It was Rs 930.57 crore in the corresponding period previous fiscal.

Meanwhile, JK Lakshmi Cement informed that its result was not comparable.

"With introduction of GST, revenue from operations for current quarter & year are not comparable with corresponding quarter & year, since sales in current year from July 1, 2017 are net of GST whereas excise duty was included in revenue from operations and formed part of expenses till June 30, 2017," the company said.

Its total expenses stood at Rs 889.57 crore. It was Rs 925.03 crore in the year-ago period.

For the entire 2017-18, JK Lakshmi Cement's consolidated net profit was down 50.30 per cent at Rs 43.36 crore as against Rs 87.26 crore in 2016-17.

Its total income was at Rs 3,928.75 crore as against Rs 3,413.69 crore in 2016-17.

Meanwhile, in a separate filing JK Lakshmi Cement informed BSE that its board in a meeting held today recommended a dividend of Rs 0.75 per equity share of Rs 5 each (15 per cent) for the financial year ended March 31, 2018.

Shares of JK Lakshmi Cement today settled at Rs 383.10 on BSE, up 0.04 per cent from previous close.