JK Lakshmi Cement sees surge in 1Q net profit

JK Lakshmi Cement Ltd has reported consolidated busines results for the period ended 30 June 2024. The company posted a net profit of INR1.5bn (US$18.6m) for the quarter, up from the INR748m profit in the equivalent period of the previous year, marking an increase of 108.7 per cent YoY. 

During the April-June 2024 period, net revenue declined by 11.6 per cent YoY to INR14.4bn from INR16.3bn, while operating expenses dropped by 14 per cent YoY from INR14.6bn to INR12.5bn.

Interest declined by 16.9 per cent YoY to INR190.3m. Tax has increased to INR540.4m, compared to INR366.3m paid in June 2023, representing a 48.7 per cent increase YoY.