JK Cement Q1 net down 55 pct to Rs 31 crhttps://indianexpress.com/article/news-archive/web/jk-cement-q1-net-down-55-pct-to-rs-31-cr/

JK Cement Q1 net down 55 pct to Rs 31 cr

Expenditure fell slightly to Rs 599.16 crore as against Rs 610.45 crore in the corresponding quarter.

Higher input costs and subdued sales pulled down JK Cement’s April-June standalone net profit to Rs 30.88 crore,down 55 per cent over the same period last fiscal.

The Kanpur-based company,which has an installed 75 lakh tonnes per annum cement-making capacity,had clocked Rs 68.87 crore net profit in the April-June quarter of last fiscal,it said in a BSE filing today.

JK Cement’s net income also dipped to Rs 661.14 crore during the quarter from Rs 737.46 crore in corresponding period of previous fiscal.

Expenditure also fell slightly to Rs 599.16 crore as against Rs 610.45 crore in the corresponding quarter.

The company had consumed raw material worth Rs 106.72 crore during the quarter against Rs 93.71 crore a year ago,it said.