JK Lakshmi Cement profit raises to 26% high

Mumbai: JK Lakshmi Cement has posted a 26 per cent rise in net profit for the year ended March 2008 at Rs 223.67 crore against Rs 177.52 crore in the previous year. The company's net sales during the period was Rs 1,286 crore compared with Rs 971 crore, up 32 per cent.

'The good performance is attributed to increased production, higher cement sales and much improved all-round efficiencies,' said Vinita Singhania, managing director, JK Lakshmi Cement. 'The rising costs of major inputs would have squeezed the margins, but for these improvements in efficiencies and cost savings', she added.

The company's earnings per share (EPS) during the year was Rs 38.72.

The company is putting up a 2.7 million tonnes greenfield project in Chhattisgarh with an investment of Rs 1,100 crore. The project is scheduled to be commissioned by 2011.