JK Lakshmi Cement Ltd reported a 61.34 per cent increase in consolidated net profit to Rs 159.13 crore for the fourth quarter ended March 2021, helped by higher volumes and improved cost efficiencies. The company had posted a profit of Rs 98.63 crore in the January-March period a year ago, JK Lakshmi Cement (JKLC) said in a regulatory filing.
Revenue from operations rose 25.22 per cent to Rs 1,424.32 crore from Rs 1,137.47 crore in the year-ago quarter.
“Despite hike in the prices of inputs like Petcoke, Diesel, Fly Ash, Gypsum, JKLC has improved its profitability on account of substantial higher volumes, higher realisations, improved efficiency, improved product mix etc,” the company said in a post-earnings statement.
Total expenses were at Rs 1,207.01 crore in Q4 FY 2020-21, up 18.78 per cent from Rs 1,016.16 crore earlier.
For the fiscal year 2020-21, JK Lakshmi Cement’s net profit climbed 66.49 per cent to Rs 421.12 crore. It was Rs 252.94 crore in the previous year.
Revenue from operations was at Rs 4,727.44 crore, up 8.32 per cent as compared to Rs 4,364.07 crore in FY 2019-20.
“This performance is achieved during a pandemic period when we lost nearly 55 days of production and 40-45 days of sales. It is greatly satisfying and speaks greatly of the Team JKLC’s passion and commitment,” the company’s Vice Chairman and Managing Director Vinita Singhania said.
Its board has recommended a dividend of 75 per cent, which is Rs 3.75 per equity share of Rs 5 each for the financial year ended March 31, 2021.
Share of JK Lakshmi Cement on Thursday settled at Rs 467.10 on BSE, up 5.10 per cent from the previous close.