JK Lakshmi Cement has reported a consolidated net loss of Rs 19.24 crore for the second quarter ended September 30, 2024 on account of drop in sales realisation. The company had posted a profit of Rs 95.87 crore in the July-September period a year ago, according to a regulatory filing from JK Lakshmi Cement Ltd (JKCL), a flagship company of JK Organization. Its revenue from operations was down 2.16 per cent at Rs 1,234.29 crore in the September quarter. It was at Rs 1,574.53 crore in the year-ago period. Total expenses of JKCL were at Rs 1,263.01 crore, down 1.27 per cent in the September quarter of FY25. JKCL's total income, which includes other income, was also down 2.17 per cent to Rs 1,242.67 crore. During the quarter, JKCL's sales volume declined 1.40 per cent to 18.66 lakh tonnes. "The profitability of the company for the quarter has been impacted due to a sharp drop in sales realisation in our primary markets," Chairperson & Managing Director Vinita Singhania said. The ..
JK Lakshmi Cement's share price slumped 3.79 per cent at Rs 770 per share on the BSE in Thursday's intraday trade
The company's profit after tax fell to Rs 7.54 cror (about $894,500) for the quarter ended Sept. 30, from Rs 83.03 crore s a year ago
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India's general elections, and an extreme summer season spanning the April-June period, restricted construction activities and hit sales volumes for cement makers
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The surge in JK Lakshmi Cement share was fuelled by robust Q4FY24 results, which came in line with street estimates
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JK Lakshmi Cement Q4FY24 results: The company board recommended a final dividend of Rs 4.50 per share for the financial year 2023-24
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On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities says the Nifty has broken out from a consolidation phase and can rally towards 22,600-22,700.
Analysts believe cement demand would remain healthy aided by expedited pre-election government spend, continued focus of infrastructure development.
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
Dalmia Cement, a dominant player in the East Indian market attributed its lower growth volumes to the lingering impact of a failed strategy tried in the June-23 ended quarter
JK Lakshmi Cement Ltd on Thursday reported a 55.15 per cent increase in consolidated profit after tax to Rs 95.87 crore in the second quarter ended September 30, 2023. The company posted a consolidated profit after tax of Rs 61.79 crore in the July-September quarter last fiscal, according to a regulatory filing from JK Lakshmi Cement Ltd. Its revenue from operations was up 14.63 per cent to Rs 1,574.53 crore compared to Rs 1,373.55 crore in the year-ago period. Total expenses of JK Lakshmi Cement was at Rs 1,447.52 crore, up 11.36 per cent. Shares of JK Lakshmi Cement Ltd on Thursday settled at Rs 674.30 on BSE, up 0.33 per cent from the previous close.
Shareholders of JK Lakshmi Cement Ltd (JKLC) have rejected a special resolution for increasing inter corporate transaction limit to Rs 10,000 crore. The special resolution, which sought shareholders' approval for increasing the limit under section 186 of the Companies Act 2013 for making investments, giving loans, providing guarantees, etc - could get only 71.10 per cent of the total votes polled at the AGM held on August 24, 2023, said the scrutinizer's report uploaded by JKLC on stock exchanges. Although 28.90 per cent of the votes were polled against the proposal through video conferencing, the Companies Act mandates that a special resolution has to be passed by a super majority, which refers to at least 75 per cent of the members voting in favour of it. As the special resolution received less than the required votes of the total votes polled, it was rejected. The said proposal was opposed by proxy advisory firm IiAS who had recommended voting against the proposal. "The maximum
Ambuja-ACC, JK Lakshmi Cement, and UltraTech are the top three cement players in Gujarat, the region from where Sanghi Cement generates a significant portion of its revenues