JK Lakshmi Cement Ltd. reduced its logistics costs significantly on the back of higher efficiency, according to whole-time director Shailendra Chouksey.
“There has been a significant improvement in our logistics cost in terms of our efficiency that we have been able to bring about,” Chouksey told BloombergQuint. “Going forward into FY21, we are quite bullish. We expect things should be much better, with the rural economy doing better on the back of a good monsoon.”
Chouksey's comments came a day after the cement maker reported its December quarter results. The company's net profit more than tripled year-on-year to Rs 49.2 crore in the third quarter of 2019-20 on the back of revenue that increased 7.5 percent to Rs 1,005 crore.
Also Read: BQ Survey: Cement Prices Rise To Five-Month High In January
JK Lakshmi Cement Q3 Results: Key Highlights
- Revenue up 7.5 percent to Rs 1,005 crore
- Net profit up 3.3 times to Rs 49.2 crore
- Ebitda up 54.6 percent to Rs 152 crore
- Margin widens to 15.1 percent from 10.5 percent.
The company's production is expected to improve, Chouksey said. “We saw a dip in production this quarter. Going forward, that should improve.”
WATCH | JK Lakshmi Cement's Shailendra Chouksey on the firm's Q3 results
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