JK Lakshmi Cement income hit by fuel expenses

India’s JK Lakshmi Cement has reported standalone total income of INR17,466.6m (US$211m) in the quarter ended 31 March 2023, compared to INR15,152.8m in the same period a year earlier. Net profit after tax over the same time frame fell from INR1717.3m to INR973.2m as total expenses advanced from INR12,939.6m to INR16,093.9m, driven primarily by higher power and fuel costs which expanded from INR3053.5m in the quarter ended 31 March 2022 to INR4102.9m in the same period a year later. Earnings per share declined from INR14.59 in the March 2022 quarter to INR8.27 in the March 2023 quarter. 

For the year ended 31 March 2023, the company saw its total income improve from INR51,080.3m to INR61,332.8m. Net profit contracted from INR4262.2m to INR3307.7m over the same period, while earnings per share fell from INR36.22 to INR28.11.