JK Lakshmi Cement shares rally over 11 % as Q4 profit jumps two-fold

Shares of JK Lakshmi Cement on Thursday jumped nearly 11 per cent after the company reported over two-fold jump in consolidated net profit for the fourth quarter ended on March 2020.

The stock advanced 10.75 per cent to Rs 220.80 on BSE, and surged 9.17 per cent to Rs 217.80 on NSE.

The company on Wednesday reported more than two-fold jump in consolidated net profit to Rs 98.63 crore for the fourth quarter ended on March 2020, helped by cost reductions.

The company had posted a profit of Rs 39.38 crore in January-March period a year ago, it said in a regulatory filing.

However, its revenue from operations during the quarter under review was down 11.08 per cent at Rs 1,137.47 crore as against Rs 1,279.33 crore in the year-ago period.

“The company's concerted efforts in improving product mix, market optimisation, enhancing the premium products sales, reduction in logistic costs and improvement in plant efficiency parameters enabled the company to post better returns,” JK Lakshmi Cement said in a statement.