JK Lakshmi Cement Q1 Results: Net profit drops 30% to ₹79 cr, revenue up 5%; board approves fundraising via NCDs
JK Lakshmi Cement Q1 Results: JK Lakshmi Cement announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 27, reporting a decline of 30 per cent in consolidated net profit at ₹79.7 crore, compared to ₹115 crore in the corresponding period last year. The cement manufacturer's revenue from operations in the first quarter of current fiscal stood at ₹1,730.25, registering a growth of around five per cent, compared to ₹1,654.14 crore in the year-ago period.
The company's consolidated net sales in the June quarter stood at ₹1,730.25 crore, compared to ₹1,654.14 crore in the year-ago period. The sales volumes were 32.05 lakh tonnes in the first quarter, compared to 30.32 lakh tonnes in the corresponding period last year.
On the operating front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) during the June quarter stood at ₹196.3 crore, registering a decline of ₹53.9 per cent, compared to ₹425.9 crore in the corresponding period last year. Margin came in at 11.3 per cent as against 25.8 per cent in the year-ago quarter.
JK Lakshmi Cement achieved a cement capacity utilisation of 85 per cent, while the clinker capacity utilisation was 97 per cent during the June quarter. “The operations of the company during the quarter were impacted by unprecedented rain and cyclone Biparjoy in the state of Gujarat and Rajasthan,'' said Vinita Singhania, Vice Chairman & Managing Director, JK Lakshmi Cement.
On July 27, shares of JK Lakshmi Cement settled 0.10 per cent lower at ₹668.10 apiece on the BSE. This copy is being updated
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