JK Lakshmi Cement shares gain over 3.5% on robust earnings

Shares of JK Lakshmi Cement rose over 3.5% on Thursday after the company reported 31% rise in net profit for the October-December quarter.

The company's scrip gained 3.5% to Rs 400 on the BSE.

On the NSE, it was up by 3.56% to Rs 399.90.

JK Lakshmi Cement had yesterday reported 31% rise in net profit for the October-December quarter at Rs 18.48 crore on higher sales and net sales realisation.

The company, which has over nine million tonnes per annum cement-making capacity, had clocked Rs 14.09 crore net profit in the same quarter last fiscal, it said in a statement.

"The profit is higher primarily because of two reasons - higher sales and net sales realisation. While the sales volume were up by six per cent, NSR was up by around four per cent over the same quarter last fiscal," said Shailendra Chouksey, Whole-Time Director of the company.

The company's revenue rose to Rs 618 crore from Rs 560 crore a year earlier, buoyed by six per cent rise in sales volume.