JK Lakshmi Cement (JKLC) has reported a dip of 29.21 per cent in its net consolidated profit during the quarter ended September 30, 2022. Its profit after tax (PAT) stood at Rs 61.79 crore in Q2 FY23 as against Rs 87.29 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated income stood at Rs 1,393.15 crore in Q2 FY23, a growth of 13.60 per cent from Rs 1,226.38 crore in the similar quarter of last year.
During the quarter JKLC’s profitability remained under pressure largely due to unabated rising global fuel cost. The company has been able to mitigate part of it by improving operational efficiencies, increasing the volume, optimising product mix and enhancing the premium product sales, the company said in a media release.
Net sales of JKLC went up by 16% to Rs 1,302.65 crore in July-September 2022 from Rs 1,118.22 crore in the corresponding quarter July-September 2021. The operating profit margin declined to 11% in Q2 FY23 from 15% logged in a year ago in Q2 FY22.
During the six months April–September 2022, the company’s sales increased by 21% from Rs 2,349.73 crore to Rs 2,853.65 crore.