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JK Lakshmi Cement Q3 turnover up 13 percent

Posted on Feb 06, 09:50PM | IANS

New Delhi, Feb 6 : JK Lakshmi Cement Wednesday reported a 13 percent increase in turnover for October-December 2012 quarter at Rs.552.73 crore.

The company attributed the growth to improved sales and efficient power and fuel usage.

"Our team has worked exceptionally well given the background of falling demand and steep increase in the costs, notably of logistics," managing director Vinita Singhania said in a statement.

"Construction activities of our eastern plants are progressing satisfactorily," she said.

The company also reported an 28 percent jump in turnover between April and December 2012 at Rs.1,700 crore.

Net sales also grew by 28 percent at Rs.1,517.17 crore in the first nine months of the current financial year from Rs.1,184.73 crore in the corresponding period of last fiscal.

The operating profit (profit before interest and taxes) in the quarter under review was higher by six percent at Rs.98.10 crore.

The nine-month ended operating profit rose to 59 percent at Rs.331.44 crore from Rs.207.86 crore in the corresponding period of the previous fiscal.

"PBIDT (profit before interest, depreciation and taxes) would have been higher but for higher expenditure on freight to the tune of Rs.22 crore due to increase in both railway and road freight on account of increase in diesel prices," the statement said.

However, the company's profit before tax (PBT) in the third quarter declined by 11.59 percent at Rs.54.05 crore from Rs.61.14 crore in the corresponding quarter of 2011-12.

"The drop in PBT against the corresponding quarter is on account of higher depreciation and reduction in other income," it said.