JK Lakshmi Cement's Q4 net up 10% on price hike, volumes
JK Lakshmi Cement has reported a 10% jump in net profit for the March quarter on improved realisation per tonne.
JK Lakshmi Cements' March quarter profit rose 10 percent year-on-year to Rs 33.3 crore on price hikes undertaken by the company. Sales also grew 1.7 percent YoY to Rs 536 crore as demand picked up well post Q3.
Shares of the company gained 0.25 percent to close the day at Rs 105.15 before earnings announcement.
Meanwhile, the company said its greenfield plant in Chattisgrah was temporarily affected during the period under review.
The company, like its peers has seen its transport cost go up due to consistent diesel price hikes since January.
Vinita Singhania,managing director of the company attributed the growth in profit to higher sales volume growth by about 8 percent, improved realization and further all-round improvement in efficiencies
She further said that fuel consumption was brought down to 738 K.Cal/kg of clinker from 742 K.Cal/kg of clinker during the year. Company also achieved higher generation of green power, viz. power from Waste Heat Recovery of 5.43 lac units which is about 1.40 lac units higher than the previous year, thereby reducing its energy costs. Company had to face severe challenge of substantial increase in its logistic costs as it is heavily dependent on the rail movement and the rail freight cost increased by about 25 percent during the financial year.