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JK Lakshmi Cement hardens after turnaround Q2 performance

Capital Market 

JK Lakshmi Cement jumped 7.81% to Rs 312.60 after the company reported a consolidated net profit of Rs 48.67 crore in Q2 September 2019 compared with a net loss of Rs 5.02 crore in Q2 September 2018.

Consolidated net sales rose 5.6% to Rs 1,012.36 crore in Q2 September 2019 over Q2 September 2018. The announcement was made after market hours on Friday, 1 November 2019.

Meanwhile, the S&P BSE Sensex was up 96 points or 0.24% to 40,260.69.

The company said its efforts to reduce the logistic cost, optimising the product mix and improved efficiency parameters enabled the company to boost its profitability. The softening of fuel prices has also contributed in improved working.

Consolidated EBITDA jumped by 45% to Rs 154.84 crore in Q2 September 2019 from Rs 106.59 crore in Q2 September 2018.

The company's grinding unit of 0.80 million tonnes at Cuttack has since been commissioned. With this company's cement capacity stands at 11.7 million tonnes.

JK Lakshmi Cement is engaged in providing cementitious materials.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 04 2019. 12:20 IST
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