JK Cement reports revenue rise

JK Cement Ltd reported total revenue of INR23,097.8m (US$279.5m) in the quarter ended 31 December 2022. This compares to INR21,646m in the previous quarter and INR19,667.8m in the same period a year earlier. Profit after tax in the December 2022 quarter came in at INR965.7m, down from INR1248.4m in the previous quarter and a significant fall from the INR1673.4m recorded in the December 2021 quarter.

Among the costs that have risen during 2022 are power and fuel, which advanced from INR4354.4m in the December 2021 quarter to INR6470.2m in the same quarter a year later, while freight and forwarding expenses increased from INR3833.7m to 3701.6m over the same period. Basic and diluted earnings per share have declined from INR21.66 in the quarter ended 31 December 2021 to INR12.50 in the same period a year later.

Over the nine months ended 31 December 2022, total revenue came in at INR66,630.6m, up from INR55,112.4m in the same period a year earlier. Over the same time frame, profit after tax fell from INR5444.1m to INR4025.6m and basic and diluted earnings per share contracted from INR70.46 to INR52.10.