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JK Lakshmi Cement Ltd on Wednesday reported a 86.90 per cent rise in consolidated net profit at Rs 92.93 crore for the second quarter ended September 30, helped by cost reduction.
The company had posted a net profit of Rs 49.72 crore in July-September quarter a year ago, JK Lakshmi Cement said in a regulatory filing.
Revenue from operations rose 11.79 per cent to Rs 1,131.74 crore during the quarter under review as against Rs 1,012.36 crore in the year-ago period.
"The company's concerted efforts to improve efficiencies, better product mix and reduction in logistic costs enabled the company to push its profitability up. Softening in pet coke prices helped the company to improve the margins," JK Lakshmi Cement said in a post earnings statement.
Total expenses declined 7.88 per cent to Rs 1,015.65 crore as against Rs 941.45 crore in the year-ago quarter.
The company's subsidiary Udaipur Cement Works is expanding its cement capacity by 2.5 million tonnes, which is likely to be commissioned in October-December 2023, JK Lakshmi Cement Vice Chairman and Managing Director JK Vinita Singhania said.
"On completion of this expansion, the consolidated capacity of JK Lakshmi Cement and Udaipur Cement Works will enhance to 16.4 million tonnes," she added.
Shares of JK Lakshmi Cement on Wednesday closed 3.02 per cent higher at Rs 290.20 on the BSE.
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First Published: Wed, November 04 2020. 22:58 IST