JK Lakshmi Cement net grows two-fold on strong sales

Riding on the back of 23 per cent sales growth, JK Lakshmi Cement has reported a two-fold jump in net profit at Rs 50.28 crore for the quarter ended June 30. The company had reported a Rs 22.75-crore net profit during the corresponding quarter of the last fiscal. In accordance with its sales growth, the company’s quarterly sales turnover jumped by 35 per at Rs.597 crore. Ms Vinita Singhania, MD, said the increased volume was aided by the timely commissioning of the grinding unit in Haryana. The company’s shares closed at Rs 86.20 on the BSE, up 1.35 per cent from the previous close.