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JK Lakshmi Cement reports surge in Q4 net profit

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JK Lakshmi Cement's consolidated net profit surged 142.54% to Rs 99.15 crore on 10.52% fall in total income to Rs 1,156.76 crore in Q4 March 2020 over Q4 March 2019.

JK Lakshmi Cement said that the company's concerted efforts in improving product mix, market optimisation, enhancing the premium products sales, reduction in logistic costs and improvement in plant efficiency parameters enabled it to post better returns.

Softening of pet coke prices also helped the company to improve its margins. These measures enabled the company to post an EBIDTA of Rs 224.52 crore in Q4 March 2020 as compared to Rs 148.06 crore in Q4 March 2019.

The operations and the financial results of the company during the quarter / year ended 31 March 2020 were marginally impacted due to the shutdown of the company's plants under the lockdown announced by the State/Central Government after the outbreak of COVID-19 Pandemic in March 2020.The company has since resumed its operations in a phased manner from 19 April 2020 conforming to the Guidelines of the Government.

The announcement was made after market hours yesterday, 20 May 2020. Shares of JK Lakshmi Cement rose 2.68% to close at Rs 199.35 on 20 May 2020.

JK Lakshmi Cement is one of the leading cement manufacturer in India.

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

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First Published: Thu, May 21 2020. 08:30 IST