JK Lakshmi Cement reports 6% dip in net profit

India’s JK Lakshmi Cement saw a 5.8 per cent YoY decline in consolidated net profit to INR506.3m (US$6.76m) for the June quarter, against INR537.5m in the year-ago period.

Revenue from operations also fell 19.8 per cent YoY to INR9.12bn from INR11.36bn in the 1QFY19-20.

"Sales volume was severely impacted by lockdown restrictions during most part of the quarter [...] resulting in sales volume plunging by 18 per cent in Apr-June 2020 over Apr-June 2019,” said the company.

However, on a standalone basis, net profit advanced 12.7 per cent YoY to INR444.2m in the first quarter of FY20-21.