JK Lakshmi reports 62% rise in standalone net profit

JK Lakshmi Cement reported a 62.3 per cent YoY rise in standalone net profit to INR338.4m (US$4.99m) in the 4Q18. The company’s total income saw a slight decrease of 0.8 per cent to INR9.23bn, compared with INR9.31bn seen in the year-ago period.

However, the company has stated the results in the two periods are not comparable.

"With introduction of GST, revenue from operations for current quarter and year are not comparable with corresponding quarter and year, since sales in current year from 1 July 2017 are net of GST whereas excise duty was included in revenue from operations and formed part of expenses till 30 June 2017," the company said in a statement.

For the FY17-18 period, JK Lakshmi’s consolidated net profit decreased 50.3 per cent YoY to INR433.6m.