JK Cement third quarter net profit soars 74.8% to Rs 217 crore

Representational image of the cement industry

JK Cement Ltd on Saturday reported an increase of74.82 per cent in its consolidated net profit to Rs217.28crore for the third quarter ended December 2020.

The company had posted a profit of Rs124.29crore in the October-December period a year ago, JK Cement said in a regulatory filing.

Its revenue from operations was up24.52per cent at Rs1,832.71crore during the quarter under review as against Rs1,471.78crore in the year-ago period.

JK Cement total expenses were at Rs1,526.25crore, up15.73 per cent, as against Rs1,318.80crore of Q3/FY 2019-20.

Meanwhile, JK Cement also informed that board of the company in its meeting held on Saturday approved setting up of an integrated greenfield grey cement plant of four millions tonnes per annum by its wholly-owned subsidiary Jaykaycem (Central) Ltd at Panna, Madhya Pradesh.

With a split grinding unit in Uttar Pradesh, the project has an estimated cost outlay of Rs 2,970 crore.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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