Shares of JK Lakshmi Cement advanced nearly four per cent to hit intraday high of Rs 400 after the company reported strong growth in its net profit post the market hours on Wednesday.
Net profit of the company grew 31 per cent to Rs 18 crore as against Rs 14 crore in the same quarter last financial year.
Revenues of JK Lakshmi Cement jumped 10.3 per cent to Rs 618 crore versus Rs 560 crore supported by six per cent increase in sales volume on year-on-year basis.
"The profit is higher primarily because of two reasons - higher sales and net sales realisation. While the sales volumes were up by 6 per cent, NSR (Net Sales Realisation) was up by around 4 per cent over the same quarter last fiscal," said Shailendra Chouksey, whole -time director of the company.
At 10.55 AM, JK Lakshmi Cement was up 2.23 per cent at Rs 394.75 apiece, outperforming the broader Nifty, which was up 0.25 per cent
(With agency inputs)
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