JK Lakshmi Cement today reported a 46.88 per cent decline in standalone net profit to Rs 13.23 crore for the second quarter ended September 30.
The company had posted a net profit of Rs 24.91 crore in the July-September quarter a year ago, JK Lakshmi Cement (JKLC) said in a BSE filing.
However, its total income during the quarter under review was up 5.66 per cent at Rs 793.57 crore as against Rs 751.02 crore in the corresponding quarter a year ago.
"Despite de-growth in the cement industry during the July-September 2017 quarter, JKLC recorded a healthy growth of 10 per cent in its sales volume during July-September 2017 over July-September 16," the company said in a statement.
JKLC's total expenses was up 6.46 in Q2 FY 2017-18 at Rs 774.77 crore as against Rs 727.69 crore in the year-ago quarter.
The company is setting a 20 MW Thermal Power plant in Durg, which would reduce the power cost.
"To reduce the power cost of its eastern operation, the company is setting up a 20 MW thermal power plant in Durg which will come into stream in fourth quarter of 2018-19, besides the already commissioned Waste Heat Recovery plant which would reduce the power cost in the October-December 2017 quarter," said JK Lakshmi Cement Whole Time Director Shailendra Chouksey.
Shares of JK Lakshmi Cement today settled at Rs 438.90 on BSE, up 0.64 per cent from previous close.
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