India: JK Cement annual profits down 35.3%

The Times of India reports that JK Cement’s standalone net profit for 2015-16 was down 35.3 per cent on the previous year to INR1.015bn (US$15.1m). Quarterly profits for the period ending 31 March 2016 were up slightly YoY at INR705.6m (US$10.5m).

Like most Indian producers, JK Cement’s performance appears to have suffered from negative pricing pressures. Revenues were up for both the year and the final quarter, implying higher volumes than for 2014-15, but despite this profits suffered.

For the whole of 2015-16, revenues rose 6.1 per cent to INR35.6bn (US$529m), while the final quarter saw revenues up 5.4 per cent to INR9.73bn (US$145m).