JK Lakshmi Cement sees 87% rise in net profit

India’s JK Lakshmi Cement has seen an 86.9 per cent YoY rise in consolidated net profit to INR929.3m (US$12.5m) for the quarter ending 30 September 2020, compared with INR497.2m in the year-ago period.
Revenue from operations also increased 11.8 per cent YoY to INR11.32bn from INR10.12bn in the 2QFY20-21.

"The company's concerted efforts to improve efficiencies, better product mix and reduce logistic costs enabled the company to push its profitability up. The softening in petcoke prices helped the company to improve the margins,” said the company.

JK Lakshmi’s subsidiary, Udaipur Cement Works is also expanding its cement capacity by 2.5Mta, which is now likely to be commissioned in the October-December period of 2023.