NEW DELHI: JK Lakshmi Cement Ltd on Wednesday reported a 15.49 per cent decline in its consolidated net profit to Rs 115.07 crore for the first quarter ended June 30. The company had posted a profit of Rs 136.17 crore in the April-June period a year ago, JK Lakshmi Cement said in a regulatory filing.
Its revenue from operations was up 24.78 per cent at Rs 1,654.14 crore during the quarter under review against Rs 1,325.58 crore in the year-ago period.
According to the company, its operating profit margin declined in the April-June quarter “due to cost-push”.
It has recorded a “very satisfactory growth in its net sales” and could achieve a marginal increase in the operating profit “despite considerable pressure from the cost, mainly because of unabated increase in global fuel cost,” said earning statement by the company.
JK Lakshmi Cement’s total expenses were Rs 1,489.10 crore, up 28.6 per cent in Q1 FY 2022-23 compared to Rs 1,157.88 crore.
Share of JK Lakshmi Cement Ltd on Wednesday settled at Rs 442.95 apiece on BSE, down 1.44 per cent from the previous close.