JK Lakshmi Cement posts Q3 net loss of Rs 3.67 crore

Brand and retail revenue in the reporting quarter amounted to Rs 736.97 crore, a rise of 11.88 per cent vis-à-vis Rs 658.68 crore in the third quarter of fiscal 2015.

In past three trading sessions the stock surged 16% from Rs 5,830 on February 2, after the company reported a stellar set of numbers for the third quarter ended December 31, 2015 (Q3FY16).

The company had posted a net profit of Rs 161.9 crore for the corresponding period a year ago, it said in a filing to the BSE.

Consolidated gross revenue of the company grew by 12 percent to Rs 5,396 crore for the reported quarter, as against Rs 4,802 crore a year ago.

In a separate statement, Mphasis clarified media reports that said the company is not involved in any negotiations for potential acquisition by private equity firms Blackstone and Apollo Global Management.

Jayesh Shah, director and chief financial officer said, “The performance for the quarter has been satisfactory considering very challenging domestic markets. Following improvement in consumer sentiments, we expect performance in fourth quarter to be a stronger than corresponding quarter”.

Shares of KEC International today closed 2.48 per cent down at Rs 117.95 apiece on BSE.