JK Cement on Saturday reported that its standalone net profit declined 26.07 per cent to Rs 124.8 crore. it is against 168.8 million in the year-ago period, the company said in a regulatory filing.
Revenue from operations declined 16.7 percent 2,141.8 crore in the quarter under review 329 crore in the previous quarter, JK Cement said in its regulatory filing.
Earnings before interest, tax, depreciation and amortization (EBITDA) registered a decline of 9.8 per cent. from 296.7 crores 329 crore in the year-ago period. Margins stood at 2.3%, compared to 5.5% in the year-ago period.
JK Cement Said that the company has also approved the expansion of 5.5 MnTPA in the next two years, and the required investment will be 1161 crores.
“Expansion to 5.5 MnTPA in next two years has been considered and approved, out of which 3.50 MnTPA capacity is proposed at JK Cement Ltd (JKC) and a green field split grinding unit of 2MnTPA capacity at JKC’s wholly owned subsidiary M /s. Jaykaycem (Central) Ltd (Jaykaycem),” the company said in its regulatory filing.
The company’s stock rose 1.93 percent 2,823.60 on BSE on Friday.
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