JK Lakshmi Cement Q2 net profit down 47% to Rs 13 crore

JK Lakshmi Cement on Wednesday reported a 46.88 percent 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 percent 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 percent in its sales volume during July-September 2017 over July-September 16," the company said in a statement. JKLC's total expenses were 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.