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Business News/ Companies / Company Results/  JK Cement net profit down by 26% to 124.8 cr
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JK Cement net profit down by 26% to ₹124.8 cr

The revenue from operations declined by 16.7 per cent to ₹2,141.8 crore

JK Cement says the proposed fund raising would be ‘subject to shareholders approval’ at its annual general meeting to be held 29 July 2017. Photo: MintPremium
JK Cement says the proposed fund raising would be ‘subject to shareholders approval’ at its annual general meeting to be held 29 July 2017. Photo: Mint

 

JK Cement on Saturday reported that its standalone net profit declined by 26.07 per cent to rs 124.8 crore. This is against 168.8 crore in the year-ago period, the company said in a regulatory filing.

The revenue from operations declined by 16.7 per cent to 2,141.8 crore in the quarter under review from 329 crore in the previous quarter, JK Cement said in its regulatory filing.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) was down by 9.8 per cent at 296.7 crore from 329 crore in the year ago period. The margins was at 2.3% as compared to 5.5% in the year ago period.

JK Cement said that the company has also approved expansion of 5.5 MnTPA over next two years, and the investment required will be 1161 crore.

"Considered and approved expansion of 5.5 MnTPA over next two years out of which 3.50 MnTPA capacity is proposed in JK Cement Ltd (JKC) & a green field split grinding unit of 2MnTPA capacity to be set up in JKC’s wholly owned subsidiary M/s. Jaykaycem (Central) Ltd (Jaykaycem)," said the company in its regulatory filing.

The company's scrip was up by 1.93 per cent to 2,823.60 a piece on BSE, on Friday.

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Published: 12 Nov 2022, 05:10 PM IST
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