JK Lakshmi Cement reports loss of Rs 19.24 cr in Q2, revenue down 2.2%

New Delhi: JK Lakshmi Cement has reported a consolidated net loss of Rs 19.24 crore for the second quarter ended September 30, 2024 on account of drop in sales realisation.

The company had posted a profit of Rs 95.87 crore in the July-September period a year ago, according to a regulatory filing from JK Lakshmi Cement Ltd (JKCL), a flagship company of JK Organization.

Its revenue from operations was down 2.16 per cent at Rs 1,234.29 crore in the September quarter. It was at Rs 1,574.53 crore in the year-ago period.

Total expenses of JKCL were at Rs 1,263.01 crore, down 1.27 per cent in the September quarter of FY25.

JKCL's total income, which includes other income, was also down 2.17 per cent to Rs 1,242.67 crore.

During the quarter, JKCL’s sales volume declined 1.40 per cent to 18.66 lakh tonnes.

"The profitability of the company for the quarter has been impacted due to a sharp drop in sales realisation in our primary markets," Chairperson & Managing Director Vinita Singhania said.

The cement industry has witnessed a decline in sales realisation due to falling cement prices on a year-on-year basis.

The company, however, reamined bullish in its outlook for the sector looking at the government's spending on infrastructure projects.

“Considering the government's focus on Infrastructure Development & Higher Budgetary allocation and various other Initiatives for housing and road development, the outlook for the cement sector is positive in the coming year," it said.

Shares of JK Lakshmi Cement Ltd on Thursday were trading at Rs 772 per scrip on BSE, down 3.54 per cent from the previous close.