JK Lakshmi Cement posts Rs 190.24 mn loss in Q2; revenue dips 2.2%

12 Nov 2024 CW Team

JK Lakshmi Cement reported a consolidated net loss of Rs 190.24 million for the second quarter ending September 30, 2024, attributing the downturn to a drop in sales realisation. This was a significant change from the previous year when the company recorded a profit of Rs 950.87 million during the same period, as indicated by JK Lakshmi Cement (JKCL), the flagship company of JK Organisation.

Revenue from operations for the September quarter decreased by 2.16 per cent to Rs 12.34 billion, compared to Rs 15.74 billion in the year-ago period. Additionally, JKCL's total expenses were slightly lower at Rs 12.63 billion, a decrease of 1.27 per cent for Q2 FY25.

The company’s total income, which includes other sources, also dropped by 2.17 per cent, reaching Rs 12.42 billion. Sales volume for the quarter declined by 1.4 per cent to 18.66 lakh tonne.

Chairperson and Managing Director Vinita Singhania noted that the company’s profitability was adversely affected due to a sharp decline in sales realization in its primary markets. The cement industry, in general, has experienced lower sales realization due to a year-on-year decrease in cement prices.

Despite these challenges, JKCL expressed confidence in the sector's future, citing increased government investment in infrastructure projects as a positive indicator for the market.

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