JK Lakshmi Cement Q1 net down 5.8 pc to Rs 50.63 cr

JK Lakshmi Cement Ltd on Wednesday reported a 5.80 per cent decline in consolidated net profit for the June quarter at Rs 50.63 crore as sales were muted due to the coronavirus lockdown. As a result, sales declined to Rs 825.15 crore by 21 per cent in Apr-June 2020 from Rs 1,041.88 crore in Apr-June 19," it said.

JK Lakshmi Cement Ltd on Wednesday reported a 5.80 per cent decline in consolidated net profit for the June quarter at Rs 50.63 crore as sales were muted due to the coronavirus lockdown. The company had posted a profit of Rs 53.75 crore in the April-June period a year ago, JK Lakshmi Cement said in a regulatory filing.

Revenue from operations dropped 19.78 per cent to Rs 911.54 crore during the quarter under review, as against Rs 1,136.32 crore earlier. "Sales volume was severely impacted by lockdown restrictions during most part of the quarter...resulting into sales volume plunging by 18 per cent in Apr-June 2020 over Apr-June 19. As a result, sales declined to Rs 825.15 crore by 21 per cent in Apr-June 2020 from Rs 1,041.88 crore in Apr-June 19," it said. Total expenses were at Rs 846.55 crore, as against Rs 1,037.23 crore earlier, down 18.38 per cent.

However, on a standalone basis, net profit was up 12.74 per cent to Rs 44.42 crore as against Rs 39.40 crore. Share of JK Lakshmi Cement Ltd settled at Rs 297.80 on BSE, down 0.30 per cent.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)