JK Lakshmi Cement on Thursday reported a 41.13% increase in consolidated net profit to Rs 162.06 crore for the fourth quarter ended on March 2024 helped by higher volumes and improved cost efficiencies.
The company had posted a profit of Rs 114.83 crore in the January-March period a year ago, according to a regulatory filing from JK Lakshmi Cement Ltd.
However, its revenue from operations was down 4.36% at Rs 1,780.85 crore during the quarter under review. It was at Rs 1,862.07 crore in the year-ago period.
During the quarter, JKCL's sales volume declined 4.27% to 25.51 lakh tonnes.
Total expenses were at Rs 1,556.82 crore in the March quarter of FY24.
Total income of JKCL was at 1,807.15 crore, down 3.81%.
Commenting on the results, Chairperson & Managing Director Vinita Singhania said, "Profitability of the Company improved on account of higher volume, better product & sales mix and reduction in fuel costs."
For the financial year ended on March 31, 2024, JKCL net profit was at Rs 487.87 crore, up 32.17%. It was at Rs 369.11 crore a year ago. Its revenue from operations in FY24 was Rs 6,788.47 crore, up 5.22%.
Meanwhile, in a separate filing, JKCL informed its board in a meeting held on Thursday recommended a final dividend of Rs 4.50 per equity share of Rs 5 each for the financial year ended March 31 2024, in addition to an interim dividend of Rs 2 per Equity Share.
Shares of JK Lakshmi Cement Ltd on Thursday settled at Rs 794.55 on BSE, down 0.14% from the previous close.
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