JK Lakshmi Cement share rises over 5% on strong Q2 earnings

JK Lakshmi Cement share price gained over 5% in Thursday's trade after the company reported a robust performance in its September quarter results.

The company's consolidated Q2 net profit rose 86.90% YoY at Rs 92.93 crore for the September quarter as against Rs 49.72 crore in the same quarter a year ago.

Following the earnings update, JK Lakshmi Cement stock touched an intraday high of Rs 306.95, rising 5.77% on BSE. The stock has given 4.53% returns in the last 3 days. The stock also hit an intraday low of Rs 292 as against the last closing price of Rs 290.20.

Market capitalisation of the firm stood at Rs 3,471.86 crore as of today's session.

JK Lakshmi Cement stock has risen 3% in one week, 12% in one month and 5.6% since the beginning of the year. JK Lakshmi Cement stock trades higher than 5, 20, 50, 100 and 200-day moving averages.

Revenue from operations rose 11.79% to Rs 1,131.74 crore during the quarter under review as against Rs 1,012.36 crore in the year-ago period.

"The company's concerted efforts to improve efficiencies, better product mix and reduction in logistic costs enabled the company to push its profitability up. Softening in pet coke prices helped the company to improve the margins," JK Lakshmi Cement said.

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