Shares of JK Lakshmi Cement rallied 6% on 3 November after the company reported its q2 earnings on 2 November.

The cement company posted a 55.15% year-on-year (YoY) increase in its consolidated revenue at Rs 95.87 crore for the quarter under review against Rs 61.79 crore reported in the year-ago quarter.

The revenue from operations of the company was at Rs 1,574.53 crore for the quarter, which is a 14.63% YoY increase from Rs 1,373.55 crore reported in the same quarter during the previous fiscal year.

The company’s total expenses saw an 11.36% year-on-year increase to Rs 1,447.52 crore for the quarter.

The company’s EBITDA (earnings before interest, tax, depreciation, and amortisation) was at Rs 178.54 crore, marking a 29% YoY growth for the quarter under review. The EBITDA margins expanded by 130 basis points and went from 11% in Q2FY23 to 12.3% during the quarter under review.

The Board of Directors of the company have also approved increasing the capacity of the existing split location grinding unit in Surat by adding an additional grinding unit of 13.50 lakh tonnes per annum that is worth Rs 225 crore.

At 12:54 pm, the shares of JK Lakshmi Cement were trading 5.39% higher at Rs 710.55 on NSE.