India's JK Lakshmi Cement climbs as Q3 profit jumps

JK Lakshmi Cement

13/02/2023 04:42

** Shares of India's JK Lakshmi Cement Ltd  JKLC.NS  rise as
much as 2.5% to 777 rupees, its largest intraday pct climb in a
week
    ** Cement maker reported a 24.2% YoY rise in Q3 net profit
after tax to 735.9 mln rupees ($8.89 million)
    ** Co says rise in profit is due to higher volume,
optimization of sales and product mix; net sales rose 25% to
14.89 bln rupees
    ** Of 18 analysts covering stock, 16 rate it 'buy' or
'strong buy', 2 'strong sell;' median PT is 754 rupees -
Refinitiv data
    ** Stock rose 41.2% in 2022, its third consecutive annual
gain
    ($1 = 82.7350 Indian rupees)
 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))