JK Lakshmi Cement ups profit by 3%, to pay 40% dividend
BY PTI17 May 2015 10:48 PM GMT
PTI17 May 2015 10:48 PM GMT
JK Lakshmi Cement achieved a revenue growth of 12 per cent in 2014-15 despite a difficult year in which cement demand grew by only about 2 per cent in its marketing zone. After accounting for exceptional items and tax, the company’s profit stood at Rs 95.6 crore against Rs 93 crore in 2013-14. JK Lakshmi Cement’s sales rose to Rs 2568.49 crore in 2014-15 from Rs 2293.59 crore in the previous fiscal.
Its operating profit (PBIDT) went up to Rs 377.66 crore in 2014-15 from Rs. 346.23 crore in 2013-14. After providing for interest and depreciation, the company’s PBT before exceptional items was higher at Rs 175.02 crore in 2014-15 than Rs 133.87 crore in 2013-14.Â
For the fourth quarter (January-March 2015), it has reported a decline sales and PBIDT to Rs 643.29 crore and Rs 89.24 crore against Rs 721.55 crore and Rs 136.55 crore respectively in the corresponding quarter of the previous year. Â
JK Lakshmi  provided Rs 49.19 crore as an exceptional item towards the demand notice of the sales tax department. Apart from this, exceptional items included Rs 12.61 crores being one-time expenditure incurred on the launch of new products and on setting up of new marketing networks in eastern markets. Â
The Board of Directors has recommended maintaining the dividend at last year’s level of 40 per cent.Â
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