JK Lakshmi Cement Posted Net Profit Rs.59.84 Cr. in Oct-Dec.21

Bhubaneswar:  JK Lakshmi CementLtd. recorded a marginal increase in the turnover at Rs.1193.41 crore in Oct-Dec21 against Rs.1192.80 crore in the corresponding quarter Oct-Dec 20. There seems to be no respite from continuous rise in Petcoke and Diesel prices which are hovering at all-time high. This has dented the company’s profitability severely. JK Lakshmi Cement’s Chhattisgarh plant witnessed transporters strike which halted its despatches for 17 days during the quarter, which affected the sales volumes.

Company’s volumes were also hurt due to steep fall in the demand in the month of November’21 in most of its markets. Due to fall in the volumes and increase in the cost of production, Company’sEBIDTA fell by 23% to Rs.162.84 crore in Oct-Dec’ 21 from Rs.212.46 crore in Oct-Dec’20. After providing for interest and depreciation, PBT stood at Rs.90.99 crore in Oct-Dec’21 as against Rs.127.15 crore in Oct-Dec’20. After Providing for Taxes and Other Comprehensive Income, JKLakshmi Cement’s Profit declined to Rs.59.84 crore in Oct-Dec’21 from Rs.102.53 crorelogged in the corresponding quarter.

During the Nine months April21–December21Company’s Sales increased by 16% toRs.3543.14 crore (Rs.3062.72 crore) and EBITDA was up at Rs.574.65 crore (Rs.569.02 crore). JK Lakshmi Cement’s profit at PAT level during this period moved up by 12% at Rs.256.30 crore against profit of Rs.227.97 crore in the same period last year.

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