India’s JK Lakshmi Cement Q4 profit rises on cost control measures – ET Infra


Representative Image

BENGALURU: India’s JK Lakshmi Cement on Thursday reported a 46.3% rise in its fourth-quarter profit, as a tighter lid on costs helped cushion the impact from a revenue drop amid lower cement prices. The company’s net profit after tax (PAT) stood at 1.42 billion rupees ($17.1 million) compared to 973.2 million rupees a year ago.

The total expenses dropped 10.4% compared with the previous year, helped by lower fuel, transport and employee costs. Meanwhile, revenue from operations fell 4.7% to 16.48 billion rupees hurt by volumes dropping 4.3%.

To stave off tough competition and meet fiscal year-end volume targets, Indian cement makers unveiled discounts in the January-March period which had led prices across the country on average to drop to two-year lows on an annualized basis. A lid on costs also helped rival India Cements to narrow its loss, while Adani-owned Ambuja Cements and south India-focused rival Ramco Cements missed their respective Q4 profit estimates.

  • Published On May 24, 2024 at 07:58 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Get updates on your preferred social platform

Follow us for the latest news, insider access to events and more.



Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Open chat
1
How May I Help You.
Scan the code
Vishwakarma Guru Construction
Hello Sir/Ma'am, Please Share Your Query.
Call Support: 8002220666
Email: Info@vishwakarmaguru.com


Thanks!!