JK Lakshmi Cement Q1 results: PAT falls 30.65% to Rs 79.79 crore
JK Lakshmi Cement Ltd on Thursday reported a 30.65 per cent decline in consolidated profit after tax to Rs 79.79 crore in the first quarter ended June 30, with rain and cyclone Biparjoy impacting operations in Gujarat and Rajasthan.
JK Lakshmi Cement Ltd on Thursday reported a 30.65 per cent decline in consolidated profit after tax to Rs 79.79 crore in the first quarter ended June 30, with rain and cyclone Biparjoy impacting operations in Gujarat and Rajasthan.
The company, which posted a consolidated profit after tax of Rs 115.07 crore in the same quarter last fiscal, said its board has approved raising of up to Rs 2,500 crore through debt to part-finance its ongoing projects and fund various growth opportunities, including inorganic growth.
Its consolidated net sales in the first quarter stood at Rs 1,730.25 crore compared to Rs 1,654.14 crore in the year-ago period, the company said in a regulatory filing. Sales volumes were 32.05 lakh tonnes in the first quarter against 30.32 lakh tonnes a year ago.
"The operations of the company, during the quarter, were impacted by unprecedented rain and cyclone Biparjoy in Gujarat and Rajasthan," JK Lakshmi Cement Vice Chairman & Managing Director Vinita Singhania said. The company achieved a cement capacity utilisation of 85 per cent in the first quarter, while the clinker capacity utilisation was 97 per cent, the company said.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
08:48 PM IST