Shares of JK Lakshmi Cement today tumbled over 7 per cent after the company reported a 19.4 per cent decline in standalone net profit for the fourth quarter ended March 2017. The stock tanked 7 per cent to Rs 478.55 on the BSE after a weak opening.
On the NSE, it dived 7.45 per cent to Rs 477.70. JK Lakshmi Cement yesterday reported a 19.4 per cent decline in standalone net profit at Rs 20.85 crore for the March quarter, hurt by increase in input costs.
The company had logged a standalone net profit of Rs 25.87 crore in the same quarter of the previous fiscal, JK Lakshmi Cement said in a BSE filing.
Total income during the quarter under review stood at Rs 930.57 crore as against Rs 837.21 crore in the year-ago period, up 11.15 per cent.