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

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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

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