JK Cement Q1 results: Net profit at Rs 190.08 cr in FY22

16 Aug 2021 CW Team

On Saturday, JK Cement Limited reported a three-fold increase in its consolidated net profit to Rs 190.08 crore for the first quarter ended on 30 June 2021.

In a regulatory filing, JK Cement said that the firm had recorded a profit of Rs 49.94 crore in the April-June period last year.

Its income from operations was increased by 70.59% at Rs 1,714.14 crore during the quarter under review compared to Rs 1,004.84 crore in the year-ago quarter.

Total expenses were at Rs 1,454.28 crore, increased by 55.97%, in Q1/FY 2021-22 compared to Rs 932.43 crore in the year-ago period.

The volume's growth was aided by approximately 40% capacity increase in its key market, and the firm continues to gain market share on the back of that. Analysts at Motilal Oswal Financial Services Limited anticipate market share gains to continue over the following four-five years since the firm is now installing a 4mtpa greenfield plant, which would be commissioned by Q1FY24, in central India.

The standalone revenue and adjusted profit after tax of the firm surged 69% and 168%, respectively, in the June quarter, against the same period a year ago. The earnings beat on these parameters was supported by higher grey cement realisations.

JK Cement Limited, a leading cement producer in India, is an affiliate of the multi-disciplinary industrial conglomerate JK Organisation. It was founded by LalaKamlapat Singhania.

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Also read: India Cements Q1 results: Net profit at Rs 46.63 cr in FY22

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