J.K Cement Q1 Results: Net profit drops 30% to ₹114 crore, revenue up 21% YoY
- J.K Cement Q1 Results: The cement manufacturer's revenue from operations in the first quarter of current fiscal stood at ₹2,762.62 crore, reporting a rise of 21.5 per cent compared to ₹2,272 crore in the year-ago period.
J.K Cement Q1 Results: J.K Cement released its April-June quarter results for fiscal 2023-24 (Q1FY24) on August 12, reporting a decline of 30 per cent in consolidated net profit at ₹114.66 crore, compared to ₹162.68 crore in the corresponding period last year. The cement manufacturer's revenue from operations in the first quarter of current fiscal stood at ₹2,762.62 crore, reporting a rise of 21.5 per cent compared to ₹2,272 crore in the year-ago period.
The company's total income during the June quarter came in at ₹2,794 crore, compared to ₹2,287 crore in the same period last year. Total expenses during the quarter-under-review came in at ₹2,598 crore, compared to ₹2,036 crore in the year-ago period.
J.K Cement said in a regulatory filing to the stock exchanges that its board has renamed the ‘CSR Committee’ to ‘CSR and Sustainability Committee’ and reconstituted the said Committee whereby Sushila Devi Singhania (Member) is replaced by Madhavkrishna Singhania (Dy. Managing Director & CEO) and other members remained unchanged.
JK Cement Ltd. is one of India’s leading manufacturers of grey cement and one of the leading white cement manufacturer in the world. Over four decades, the company has partnered India's multi-sectoral infrastructure needs on the strength of its product excellence, customer orientation and technology leadership. JK Cement’s operations commenced with commercial production at its flagship grey cement unit at Nimbahera, Rajasthan in May 1975, according to its official website.
The company has an installed grey cement capacity of 20 MnTPA as on date, according to its website. It is one of the leading manufacturers of white Cement, globally, with a total white cement capacity of 1.20 MnTPA and wall putty capacity of 1.2MnTPA. JK White Cement is sold across 43 countries around the globe and has two subsidies, JK Cement Works Fujairah FZC and JK White Cement (Africa) Ltd, the company says on its website.
On August 11, shares of JK Cement settled 3.01 per cent lower at ₹3,241.70 apiece on the BSE.
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First Published:12 Aug 2023, 04:10 PM IST
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