New Delhi, Nov 3 (PTI) JK Lakshmi Cement on Thursday reported 29.21 per cent decline in consolidated net profit at Rs 61.79 crore for September quarter 2022-23 on account of rise in fuel cost.

The company had posted a profit of Rs 87.29 crore for the year-ago period, JK Lakshmi Cement (JKLC) said in a regulatory filing.

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Revenue from operations was up at Rs 1,373.55 crore during the quarter as against Rs 1,208.80 crore in the year-ago period.

"During the quarter, JKLC's profitability remained under pressure largely due to unabated rising global fuel cost," said an earning statement from the company.

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The company has been able to mitigate part of it by improving operational efficiencies, increasing the volume, optimising product mix and enhancing the premium product sales, it said.

"JKLC EBIDTA was down at Rs 160.02 crore in July-September 2022 from Rs 178.88 crore in July-September 2021," it said.

Total expenses were Rs 1,299.83 crore as against Rs 1,105.46 crore.

JKLC stock on Thursday settled at Rs 575.50 on BSE, down 0.91 per cent from the previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)