JK Lakshmi Cement Reports Robust Q4 Net Profit Surge, Despite Dip in Revenue

JK Lakshmi Cement reported a 41.13% increase in consolidated net profit to Rs 162.06 crore for Q4 ending March 2024, aided by higher volumes and improved cost efficiencies. Despite a revenue dip of 4.36%, the company's profitability benefitted from a better product mix and reduced fuel costs.

JK Lakshmi Cement on Thursday reported a 41.13 per cent increase in consolidated net profit to Rs 162.06 crore for the fourth quarter ended on March 2024 helped by higher volumes and improved cost efficiencies.

The company had posted a profit of Rs 114.83 crore in the January-March period a year ago, according to a regulatory filing from JK Lakshmi Cement Ltd (JKCL).

However, its revenue from operations was down 4.36 per cent at Rs 1,780.85 crore during the quarter under review. It was at Rs 1,862.07 crore in the year-ago period.

During the quarter, JKCL’s sales volume declined 4.27 per cent to 25.51 lakh tonnes.

Total expenses were at Rs 1,556.82 crore in the March quarter of FY24.

Total income of JKCL was at 1,807.15 crore, down 3.81 per cent.

Commenting on the results, Chairperson & Managing Director Vinita Singhania said, ''Profitability of the Company improved on account of higher volume, better product & sales mix and reduction in fuel costs.'' For the financial year ended on March 31, 2024, JKCL net profit was at Rs 487.87 crore, up 32.17 per cent. It was at Rs 369.11 crore a year ago. Its revenue from operations in FY24 was Rs 6,788.47 crore, up 5.22 per cent.

Meanwhile, in a separate filing, JKCL informed its board in a meeting held on Thursday recommended a final dividend of Rs 4.50 per equity share of Rs 5 each for the financial year ended March 31 2024, in addition to an interim dividend of Rs 2 per Equity Share Shares of JK Lakshmi Cement Ltd on Thursday settled at Rs 794.55 on BSE, down 0.14 per cent from the previous close