JK Lakshmi Cement shares trim most of sharp early good points, close over 3% higher on Q4 earnings – Firstpost

New Delhi: Shares of JK Lakshmi Cement on Thursday trimmed most of its sharp early good points and closed the day over Three p.c higher.

In early commerce, it jumped almost 11 p.c after the corporate reported over twofold leap in consolidated web revenue for the fourth quarter ended 31 March.

Representational picture. Reuters

The inventory, which superior 10.75 p.c to Rs 220.80 on the BSE through the day, later surrendered most of its early good points and closed at Rs 206, up 3.34 p.c.

It closed with a acquire of 3.35 p.c at Rs 206.20 on the National Stock Exchange (NSE) after surging 9.17 p.c to Rs 217.80 through the commerce.

The firm on Wednesday reported greater than twofold leap in consolidated web revenue to Rs 98.63 crore for the fourth quarter ended on March 2020, helped by price reductions.

The firm had posted a revenue of Rs 39.38 crore in January-March interval a 12 months in the past, it mentioned in a regulatory submitting.

However, its income from operations through the quarter below evaluate was down 11.08 p.c at Rs 1,137.47 crore as in opposition to Rs 1,279.33 crore within the 12 months-in the past interval.

The firm’s concerted efforts in bettering product combine, market optimisation, enhancing the premium merchandise gross sales, discount in logistic prices and enchancment in plant effectivity parameters enabled the corporate to put up higher returns, JK Lakshmi Cement mentioned in a press release.

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