JK Cement's net profit down 42% to ₹96 crore, revenue up 17%

 

Revenue from operations grew by 17 percent to ₹2,288 crore as against ₹1,940.4 crore

JK Cement on Sunday reported a 42.3 per cent decline in net profit to ₹96.6 crore for the quarter ended December 2022. This is against a net profit of ₹167.3 crore in the year-ago period, the company said in its regulatory filing.

In the filing, JK Cement said revenue from operations grew 17 per cent to Rs 2,288 crore from Rs 1,940.4 crore in the corresponding quarter last year.

EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter declined 29.1 per cent to ₹262.9 crore, as against ₹370.80 crore in a year-ago period.

Whereas, the EBITDA margin stood at 11.5 per cent as against 19.1 per cent in the year-ago period.

The company has Rs. 100 crore on private placement basis, the regulatory filing noted.

JK Cement said the funds will be used for long-term growth and general corporate objectives.

"Capital expenditure, repayment of long-term borrowings as per normal repayment schedule or for any other purpose relating to the business, inter alia, financing long-term growth including general corporate purposes. Pending proceeds of NCDs as before Utilization, the company intends to invest in high quality interest bearing instruments including deposits with banks and investments in mutual funds, bonds, government securities and other debt instruments," the filing added.JK Cement's net profit down 42% to ₹96 crore, revenue up 17%

Revenue from operations grew by 17 percent to ₹2,288 crore as against ₹1,940.4 crore 

JK Cement on Sunday reported a 42.3 per cent decline in net profit to ₹96.6 crore for the quarter ended December 2022. This is against a net profit of ₹167.3 crore in the year-ago period, the company said in its regulatory filing. 

In the filing, JK Cement said revenue from operations grew 17 per cent to Rs 2,288 crore from Rs 1,940.4 crore in the corresponding quarter last year. 

EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter declined 29.1 per cent to ₹262.9 crore, as against ₹370.80 crore in a year-ago period. 

Whereas, the EBITDA margin stood at 11.5 per cent as against 19.1 per cent in the year-ago period. 

The company has Rs. 100 crore on private placement basis, the regulatory filing noted. 

JK Cement said the funds will be used for long-term growth and general corporate objectives. 

"Capital expenditure, repayment of long-term borrowings as per normal repayment schedule or for any other purpose relating to the business, inter alia, financing long-term growth including general corporate purposes. Pending proceeds of NCDs as before Utilization, the company intends to invest in high quality interest bearing instruments including deposits with banks and investments in mutual funds, bonds, government securities and other debt instruments," the filing added.