JK Lakshmi Cement shares surge 7% as net profit rises to Rs 159 crores in Q4



News24

LAST UPDATED: May 21, 2021, 1:17 p.m.

New Delhi (Anish Yande): Shares of JK Lakshmi Cement surged to 9 percent on Friday’s trading session following the announcement of results for the March quarter of 2021. 

JK Lakshmi Cement share opened at Rs 481 per share and the stock gained to Rs 513.80 per share at an intraday high. The market cap of the private banking company rose to Rs 5,900 crore.

JK Lakshmi Cement net profit rises 61 percent:

JK Lakshmi Cement recorded a consolidated net profit of Rs 98.63 crore in the March quarter of FY20. The cement manufacturer’s consolidated net profit rose to Rs 159.13 crore in the fourth quarter ended March 2021. JK Lakshmi Cement had recorded a growth in consolidated net profit at an increase of 61.34% on a year-on-year basis.

For the fiscal year 2020-21, JK Lakshmi Cement’s net profit has risen to Rs 421.12 crore. The net profit was of the cement manufacturer was recorded at Rs 252.94 crore in the previous year which rose by 66.49  percent on a yearly basis as compared to the previous fiscal.

The cement manufacturer’s revenue from operations was posted at Rs 1,137.47 crore in the March quarter of 2020 that inclined to Rs 1,424.32 crore in the March quarter of FY21. The revenue from operations rose by 25.22 percent on a year-on-year basis.

Revenue from operations of JK Lakshmi Cement rose to Rs 4,727.44 crore in the financial year 2021, rising by 8.32% as compared with the revenue from operations recorded at Rs Rs 4,364.07 crore in the year ended 31 March 2020.

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Expenses of JK Lakshmi Cement rise to Rs 1,207 crores:

Total expenses of the cement manufacturer were at Rs 1,016.16 crore in the quarter ended March 2020 rising to Rs 1,207.01 crore in Q4 FY 2020-21, at an increase of 18.78 percent YoY.

Earnings before interest, taxes, depreciation and amortization have improved to 130 basis points in the quarter ended March 31, 2021. 

EBITDA margins rose from 19 percent in Q4FY20 to 20.3 percent in Q4FY21.

The company’s board has recommended a dividend of Rs 3.75 per equity share of Rs 5 each for the financial year ended March 31, 2021.

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