Net Profit up 24% at Rs.74.26 Cr. in Oct-Dec.22
Mumbai, February 10, 2023: JK Lakshmi Cement recorded an increase in Net Sales by 25% to Rs.1488.53 Crore in Oct-Dec.22 from Rs.1193.41 Crore in the corresponding Quarter Oct-Dec.21. Inspite of unabated rise in fuel prices, JK Lakshmi Cement improved its profitability on account of higher volume, improved efficiency parameters, optimization of sales and product mix. EBIDTA rose to Rs.175.20 Crore in Oct-Dec.22 from Rs.162.84 Crore in Oct-Dec.21. After providing for interest and depreciation, PBT stood at Rs.102.47 Crore in Oct-Dec.22 as against Rs.90.99 Crore in Oct-Dec.21. After Providing for Taxes and Other Comprehensive Income, JK Lakshmi Cement’s Net Profit was higher by 24% at Rs.74.26 Crore in Oct-Dec.22 against Rs.59.84 Crore achieved in the corresponding Quarter.
During the Nine months April 22–December 22 JK Lakshmi Cement’s Sales increased by 23% to Rs.4342.18 Crore (Rs.3543.14 Crore) and EBITDA was marginally lower at Rs.559.61 Crore (Rs.574.65 Crore). JK Lakshmi Cement’s Net Profit during this period was lower at Rs.235.47 Crore against Rs.256.30 Crore in the same period last year.
To further optimize its energy cost, JK Lakshmi Cement is implementing a Project enabling it to enhance the TSR from 4% to 12% in its Sirohi Plant. JK Lakshmi Cement has also tied-up with a private player for supply of 40 MW Solar Power for its Durg Plant. After Implementation of this Solar Plant, the Share of Renewable Energy would go up to 80% for Durg Plant & to around 50% for the Company. Both these Projects are expected to be on stream during last Quarter of FY24.