As of 9:49 am, shares of JK Lakshmi Cement were trading 3.31% lower at ₹773.35. The company reported a significant decline in its second-quarter financial performance, with profit after tax dropping nearly 91% to ₹7.54 crore for the quarter ended September 30, down from ₹83.03 crore in the same period last year. Revenue from operations decreased by 21.4% to ₹1,141 crore, and sales volume fell 14% to 1.87 million tonnes during the quarter.
Key context
The cement industry faced challenges in the September quarter, with prices reaching a five-year low. This decline was attributed to an industry-wide increase in production as companies prepared to meet medium-term demand expectations.
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