JK Lakshmi Cement sees 151% increase in net profit

India’s JK Lakshmi Cement has reported a 150.5 per cent YoY increase in net profit to INR986.3m (US$13.04m) in the final quarter of FY19-20, against INR393.8m in the corresponding quarter of the previous fiscal.

However, the company’s revenue from operations was down 11.1 per cent YoY to INR11.37bn from INR12.79bn in the 4QFY18-19.

The company has attributed the results to an improved product mix, market optimisation, alongside a reduction in logistic costs and improvements in plant efficiency parameters. The softening of petcoke prices also helped improve its margins.

For the full fiscal-year, net profit surged to INR2.53bn from INR406.2m. Revenue from operations also edged up to INR43.64bn from INR43.16bn in the FY18-19.