JK Lakshmi Cement is trading higher by 5% at Rs 122 after reporting eight-fold jump in net profit at Rs 50.88 crore in the quarter ended September 2012 on better realisation.
The cement and cement products maker had a profit of Rs 6.49 crore in previous year quarter. Net sales grew 38% at Rs 490 crore on year-on-year basis.
EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved substantially to 26.18% from 15.42% during the recently concluded quarter.
The stock opened at Rs 118 and hit a record high at Rs 122 on the National Stock Exchange. A combined 447,470 shares have changed hands on the counter till early noon deals on both the exchanges.
