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JK Lakshmi cement Ltd's net profit up at Rs. 80.80 crore in Q2FY21
Posted On : 2020-11-04 20:58:38( TIMEZONE : IST )
JK Lakshmi cement Ltd (JKLC) posted a 75% jump in profit to Rs. 80.80 crore in Jul-Sept. 20 over Rs. 46.05 crore in Jul-Sept. 19 on the back of reduction in cost and higher volume. The company achieved 12% higher turnover of Rs. 1044. 77 crore in Jul-Sept. 20 as against Rs. 935.48 crore in Jul-Sept. 19. 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. Company's EBIDTA rose by 32% to Rs. 205.05 crore in Jul-Sept. 20 from Rs. 155.42 crore logged one year ago in Jul-Sept. 19. After providing for interest and depreciation PBT stood higher at Rs. 117.61 crore against Rs. 72.75 crore in Jul-Sept. 19. Afteraccounting for tax and comprehensive income. Company's Net profit was up at Rs. 80.80 crore in Jul-Sept. 20 against Rs. 46.05 crore in Jul-Sept. 19.
During Six months Apr. 20 - Sept. 20, Sales were down at Rs. 1869.92 crore (Rs. 1977.36 crore) primarily due to COVID affected first quarter Apr-Jun. 20. EBIDTA was higher at Rs. 356.56 crore (Rs. 331.35 crore). The Company's Net Profit stood up at Rs. 125.44 crore as against Rs. 85.59 crore in the same period last year.
The progress on the Waste Heat Recovery Unit III Project at Sirohi is as per schedule and will be commissioned by Jul. 21. Company's subsidiary Udaipur Cement Works Limited is expanding its cement capacity by 2.5 million tonnes which is likely to be commissioned in Oct-Dec. 23. On completion of this expansion, consolidated capacity of JKLC and UCWL will enhance to 16.4 million tonnes.
Shares of JK LAKSHMI CEMENT LTD. was last trading in BSE at Rs.290.2 as compared to the previous close of Rs. 281.7. The total number of shares traded during the day was 33984 in over 1408 trades.
The stock hit an intraday high of Rs. 293 and intraday low of 276.5. The net turnover during the day was Rs. 9755723.
