JK sees profits fall
JK Cement, one of the largest cement manufacturers in North India and the second largest white cement producer in the country, announced a marginal fall in standalone net profit for the fourth quarter ended March 2008, due to substantial rise in operating costs together with marginal revenue growth. During the quarter, the profit of the company declined 2.60% to Rs598 million from Rs614 million in the same quarter, last year.
Net sales for the quarter climbed 5.18% to Rs3,856 million, while total income for the quarter rose 4.86% to Rs3,880 million, when compared with the prior year period. The company posted earnings of Rs8.55 a share during the quarter, registering 2.61% drop over previous year period.
During the quarter, the company disclosed a fall in operating margin of 386 basis points to 26.61% on higher production cost. Interest cost decreased 1.09% to Rs91 million, while depreciation cost rose 28.73% to Rs112 million over previous year period. Published under Cement News
