JK Lakshmi Cement today reported 54.42% dip in its net profit for the quarter ended March 31, 2011 at Rs 31.96 crore due to higher expenditure on fuel and transportation.
The company had recorded Rs 70.12 crore net profit in the January-March quarter of the previous fiscal, it said in a statement.
Net sales of the company also declined to Rs 413.95 crore during the reporting quarter from Rs 441.26 crore in the same quarter previous fiscal.
JK Lakshmi Cement's expenditure on power and fuel went up to Rs 103.46 crore during the reporting quarter compared to Rs 80.12 crore in the corresponding quarter previous fiscal.
Transport and freight charges also increased to Rs 76.3 crore against 68.54 crore.
Net profit of the company during FY11 dipped to Rs 59.13 crore compared to Rs 241.13 crore in FY10. Net sales also declined to Rs 1,318.83 crore against Rs 1,490.5 crore in 2009-10.
