JK Lakshmi Cement on Tuesday reported a multifold jump in consolidated net profit to Rs 50.84 crore for December quarter 2019-20, helped by cost reductions. The company had posted a profit of Rs 3.22 crore in October-December period a year ago, it said in a regulatory filing.
Revenue from operations during the quarter under review was up 3.79 per cent at Rs 1,077.92 crore as against Rs 1,038.46 crore in the year-ago period.
“During the quarter Company has been able to reduce its logistics cost substantially as well as improve its product mix to cut down the cost further. The fuel prices have softened further,” J K Lakshmi Cement said in a post earning statement.
“These cost reductions enabled the Company to post an EBIDTA of Rs 166.59 crore in October-December 2019 from Rs 112.19 crore in October-December 2018,” it added.
Total expenses were at Rs 1,015.84 crore as against Rs 1,049.89 crore, down 3.24 per cent.
Shares of JK Lakshmi Cement on Tuesday settled at Rs 370.55 apiece on the BSE, down 0.99 per cent from the previous increase.
