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J K Cement net profit spurts by 60% for Q3FY08

This article was posted on Jan 30, 2008 and is filed under Press Releases

J.K. Cement Ltd. is one of the leading cement players in the country with over 30 years experience. The Company has two Grey Cement plants at Nimbahera and Mangrol with an aggregate installed capacity of 4 million tons and is one of the top five producers of grey cement in the northern region. It is also the second largest producer of White Cement in the country having manufacturing facility at Gotan with an annual installed capacity of 0.4 million tons.

The Company’s Board of directors met on 29th Jan.,08 to review the working of the Company for Oct. – Dec.’07 quarter.

The Company’s performance during the quarter Oct. – Dec.’07 as against same quarter of previous year, have shown substantial improvement and the Net Turnover has increased by 22% (Rs.389.9 crores vs. Rs.319 crores) while PBIDT has increased by 32% (Rs.118.1 crores vs. Rs.89.8 crores), Profit before tax increased by 34% (Rs.98.2 crores vs. Rs.73.5 crores) and Net Profit by 60% (Rs.80.2 crores vs. Rs.50.2 crores). The Earning per share increased to Rs.11.47 as against Rs.7.18 of Oct. – Dec.’ 06.

The Company has started reaping benefits of cost cutting measures taken by it. The benefit of implementation of 20 M.W. Petcoke based Power Plant has offset the impact of increase in cost of production on account of substantial increase in the prices of Petcoke/Coal, Salary & Wages & Freight etc. The Company expects that these savings will further increase in the coming quarters on completion of balance 10 M.W. of Waste Heat Recovery power plant which would be commissioned in the coming quarter.

The refurbishing of the acquired assets of M/s. Nihon Nirman Ltd. is in advanced stage of completion and expected to put into operation within next 3 -4 months’ time.

The work on the new Green Field Cement plant at Karnataka is also as per schedule and plant is likely to commission in the quarter January-March, 2009.

Sourced From: Concept Public Relations India Pvt. Ltd

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