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JK Lakshmi Cement on Monday posted nearly 8 fold increase in its standalone net profit to Rs 50.88 crore for the quarter ended September 30, 2012, largely on the back of increase in sales and recovery of some “written off” dues.
The company had reported a net profit of Rs 6.49 crore during the same quarter of the previous fiscal.
The net salesof the company was up 38.41 per cent to Rs 490.16 crore during the current quarter against Rs 354.13 crore as against the same period of last year.
Besides, its total expenditure increased to Rs 411 crore, while its tax out go and finance costs were Rs 22.64 crore and Rs 22.31 crore, respectively.
The company also reported other income of Rs 15.46 crore.
This has been attributed by the company in its filing as “mainly comprises recovery of old dues earlier written off”.
Shares of the company today closed at Rs 124.75 apiece on the BSE, up 7.87 per cent from the previous close.
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