Share price of JK Lakshmi Cement rallied more than six per cent on Friday, May 21, a day after the company announced its January-March quarter results for the fiscal year 2020-21. On Friday, JK Lakshmi Cement opened on the BSE at Rs 5472, swinging to an intra day high of Rs 513.90, and an intra day low of Rs 472. According to a regulatory filing by the firm to the stock exchanges, JK Lakshmi Cement reported a net profit of Rs 159.13 crore on a consolidated basis in the March quarter of the financial year 2020-21.
JK Lakshmi Cement reported a net profit of Rs 98.63 crore in the corresponding quarter in the previous fiscal year, marking a 61.34 per cent growth in profit on a year-on-year basis. The company's revenue from operations grew 25.22 per cent to Rs 1,424.32 crore in the fourth quarter of fiscal 2020-21, compared to Rs 1,137.47 crore in the year-ago period.
The total expenses of the company stood at Rs 1,207.01 crore during the March quarter, compared to Rs 1,016.16 crore in the year-ago period. According to the statement, JK Lakshmi Cement's board recommended a dividend of 75 per cent - Rs 3.75 per cent per equity share of Rs 5 each for the financial year 2020-21.
On the NSE, JK Lakshmi Cement opened at Rs 481, witnessing an intra day high of Rs 513.80, and an intra day low of Rs 481, throughout the trading session on Friday. It settled 4.98 per cent higher at Rs 489 apiece on the NSE.
Shares of JK Lakshmi Cement settled 5.63 per cent higher at Rs 493.40 apiece on the BSE.