JK Cement net profit down by 26% to ₹124.8 cr

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.