On August 12, J.K Cement unveiled its results for the April-June quarter of fiscal 2023-24 (Q1FY24), revealing a 30% decline in consolidated net profit at ₹114.66 crore compared to the previous year’s corresponding period when it was ₹162.68 crore. The cement manufacturer’s revenue from operations for the first quarter of the current fiscal reached ₹2,762.62 crore, marking a 21.5% increase from ₹2,272 crore in the year-ago period.
J.K Cement Q1FY24 Results Summary:
- Consolidated Net Profit Decline: J K Cement reported a 30% decline in consolidated net profit for Q1FY24, amounting to ₹114.66 crore, compared to ₹162.68 crore in the corresponding period of the previous fiscal year.
- Revenue Growth: The cement manufacturer’s revenue from operations in the first quarter of the current fiscal year reached ₹2,762.62 crore, reflecting a 21.5% increase from ₹2,272 crore in the year-ago period.
- Total Income and Expenses: Total income for the June quarter stood at ₹2,794 crore, compared to ₹2,287 crore in the same period of the previous year. Total expenses during the quarter amounted to ₹2,598 crore, compared to ₹2,036 crore in the year-ago period.
- Committee Renaming and Reconstitution: The company’s board renamed the ‘CSR Committee’ to ‘CSR and Sustainability Committee.’ Additionally, the committee was reconstituted with changes to its membership, including the replacement of Sushila Devi Singhania (Member) with Madhavkrishna Singhania (Dy. Managing Director & CEO), while other members remained unchanged.
- Company Overview: J K Cement Ltd. is a prominent manufacturer of grey cement in India and one of the leading white cement manufacturers globally. It has contributed to India’s infrastructure needs with a focus on product excellence, customer orientation, and technology leadership since its inception in May 1975.
- Installed Capacity: As of now, J.K Cement has an installed grey cement capacity of 20 MnTPA. The company is also a significant global player in white cement production with a total white cement capacity of 1.20 MnTPA and wall putty capacity of 1.2MnTPA.
- Global Presence:K White Cement, a subsidiary, is sold in 43 countries worldwide. The company also has two subsidies: JK Cement Works Fujairah FZC and JK White Cement (Africa) Ltd.
The Q1FY24 results of J.K Cement show a decline in consolidated net profit but a growth in revenue from operations. The company’s efforts in sustainability and its extensive manufacturing capacities contribute to its standing in the cement industry.
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