JK Lakshmi Cement Q3 results: Profit jumps 69% to Rs 124 crore on demand

India's JK Lakshmi Cement reported a 69% rise in third-quarter profit on Thursday on healthy demand and higher prices.

The company, the construction materials arm of JK Group, said net profit after tax rose to Rs 124 crore (around $15 mn) for the quarter ended Dec 31, from Rs 73.59 crore a year earlier.

Revenue from operations rose 6.6% to rs 1,586 crore. Power and fuel costs, JK Lakshmi's biggest expense, fell around 25%.

The housing and infrastructure sectors have seen a demand surge, aided by higher government spending ahead of the national elections, boosting cement makers' bottom lines.

Cement prices also saw a 2.5% sequential rise during the quarter, brokerage Systematix said, helping cement makers earn more from their sales.

Larger rivals UltraTech Cement and ACC Ltd beat December-quarter profit estimates on price hikes and strong infrastructure demand.

On the other hand, Ambuja Cements and India Cements saw subdued demand in the quarter.