SME Times News Bureau | 16 May, 2015
Reporting a sluggish market for cement in its areas of operation, JK Lakshmi Cement Ltd (JKLCL) posted a marginal growth of 2.7 percent in its net standalone profit at Rs.95.60 crore in 2014-15 against Rs. 93 crore in 2013-14.
The total income from operations during the timeperiod under review rose by 12.18 percent at Rs.2,307.06 crore compared to the earnings of Rs.2,056.60 crore in 2013-2014.
During January-March this year, the company's net earnings fell by 10.8 percent at Rs.578.15 crore compared to Rs.648.23 crore in the corresponding timeframe in 2014. The company's net profits were hit hard in this period which registered a fall by over 88 percent at a little over Rs.6 crore compared to over Rs.52 crore in January-March 2014.
In a statement, the company said: "The cement industry has witnessed an unprecedented January-March (fiscal) quarter with a negative growth which normally is characterized as one of the better (fiscal) quarter amongst the different quarters in terms of volume as well as in terms of prices."
