JK Lakshmi Cement net dives 68%

JK Lakshmi Cement reported 68 per cent fall in net profit at Rs 16 crore (Rs 50 crore) due to weak demand and fall in realisation. Sales in the June quarter were down 15 per cent at Rs 511 crore (Rs 598 crore). The sales volume was down 14 per cent at 12.2 lakh tonnes. The company declared a dividend of Rs 2.50. Speaking to Business Line , Shailendra Choksi, Director, said the profitability was hit by five per cent drop in realisation and slowdown in demand for cement in the northern and western markets. JK Lakshmi Cement shares were up 0.21 per cent at Rs 71 on Friday.