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JK Lakshmi posts 27% sales, growth PAT up 197%

India Blooms News Service | | 31 Oct 2014, 11:04 pm
New Delhi, Oct 31 (IBNS): JK Lakshmi Cement has reported a double digit growth of 11% and 13% in production and sales respectively in Jul-Sept 2014 quarter of the corresponding quarter over the previous year.

Increased volume enabled the company to achieve sales of Rs. 638.35 crore in July-Sept 2014 which is higher by 27% as compared to Rs. 500.86 crore in July-September 2013.

These improved volumes and better realization aided the company’s Operating Profit to rise to Rs. 90.34 crore in the quarter July-Sept 2014 as against Rs. 64.84 in the corresponding quarter of the previous year. 

The company as a matter of abundant caution provided Rs. 5 crore as an exceptional item towards the demand notice of the Sales Tax department. 

The company believes it has a strong case and the matter would be decided in its favour.  After accounting for this exceptional item and the tax, the company’s PAT has registered a healthy growth to Rs. 30.61 crore in July-September 2014 as against Rs. 10.30 crore in July-Sept 2013.

During six months April-Sept 2014, the company registered a healthy growth in its volume by 16% over the corresponding period of previous year. 

Turnover has risen by 29% to Rs. 1307.29 crore while its Operating Profit moved upto Rs. 206.32 crore in April-September 2014 from Rs. 138.08 crore in April-September 2013. 

The company’s PAT shot upto Rs. 71.07 crore in April-September 2014 as against Rs. 26 crore in the corresponding quarter of the previous year.