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Business EconomyPosted at: Nov 6 2024 7:57PM


JK Lakshmi Cement reports Rs 19 crore loss in Q2

New Delhi, Nov 6 (UNI) JK Lakshmi Cement on Wednesday reported a consolidated net loss of Rs 19.24 crore for July-September quarter (Q2) of the current fiscal 2024-25 as against Rs 95.87 crore profit in the same quarter a year ago.
The company's total income fell 21.77% year-on-year to Rs 1,242.67 crore in the September quarter of the current financial year as compared to Rs 1,588.51 crore in the corresponding period of the previous year.
Commenting on the results of the company, Vinita Singhania, Chairperson & Managing Director (CMD) of the company said, “The profitability of the company for the quarter has been impacted due to sharp drop in sales realization in our primary markets."
JK Lakshmi Cement in a media release said that as a part of company’s ongoing efforts to enhance shareholders’ value, the company’s board had approved the composite scheme of arrangement which provides for the merger of its subsidiaries viz Udaipur Cement Works Ltd (UCWL), Hansdeep Industries & Trading Company Ltd and Hidrive Developers & Industries Ltd into itself.
"The appointment date for the merger is 1st April 2024. The company has already approached the regulatory authorities for their consents. Pending the necessary approvals, the effect of the scheme has not been given in the financial results," the company said.
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