India’s JK Cement has reported a 99.9 per cent decline in net profit to INR2.3m (US$30,194) in the final quarter of FY19-20, compared with INR1.5bn in the year-ago period. Net revenue edged up to INR14.78bn from INR104.71bn in the 4QFY18-19.

Operating expenses dropped 6.7 per cent YoY to INR11.31bn from INR12.12bn.

The company has also received approval to raise funds through the issuance of secured non-convertible debentures in one or more tranches for an amount up to INR2.50bn, within the overall borrowing limit approved by the shareholders.