JK Lakshmi Cement on Wednesday reported more than two-fold jump in consolidated net profit to Rs 98.63 crore for the fourth quarter ended on March 2020, helped by cost reductions. The company had posted a profit of Rs 39.38 crore in January-March period a year ago, it said in a regulatory filing.
However, its revenue from operations during the quarter under review was down 11.08 per cent at Rs 1,137.47 crore as against Rs 1,279.33 crore in the year-ago period.
“Company's concerted efforts in improving Product Mix, market optimisation, enhancing the premium products sales, reduction in logistic costs and improvement in plant efficiency parameters enabled the company to post better returns. Softening of Pet Coke prices also helped the company to improve its margins,” JK Lakshmi Cement said in a statement.
Its total expenses were at Rs 1,016.16 crore as against Rs 1,239.61 crore, down 18.02 per cent.
For 2019-20, the net profit zoomed six-folds to Rs 252.94 crore from Rs 40.62 crore in the previous year.
Its revenue from operation in fiscal was up at Rs 4,364.07 crore against Rs 4,316.31 crore in 2018-19.
Performance of the company was marginally impacted due to unprecedented situation arising out of the pandemic.
“The Operations & the Financial Results of the Company during the Quarter / Year ended March 31, 2020, were marginally impacted due to the shutdown of the company's plants under the lockdown announced by the State/Central Government after the outbreak of COVID-19 Pandemic in March 2020.
"The Company has since resumed its operations in a phased manner from 19th April 2020 conforming to the Guidelines of the Government,” JK Lakshmi Whole-time Director Shailendra Chouksey said.Share of JK Lakshmi Cement Ltd on Wednesday settled at Rs 199.35 on BSE, up 2.68 per cent from the previous close.