JK Cement Q3 net profit up 74.8% to Rs 217.28 crore
NEW DELHI: JK Cement Ltd on Saturday reported an increase of 74.82 percent in its consolidated net profit to Rs 217.28 crore for the third quarter ended December 2020.
The company had posted a profit of Rs 124.29 crore in the October-December period a year ago, JK Cement said in a regulatory filing.
Its revenue from operations was up 24.52 percent at Rs 1,832.71 crore during the quarter under review as against Rs 1,471.78 crore in the year-ago period.
JK Cement's total expenses were at Rs 1,526.25 crore, up 15.73 percent, as against Rs 1,318.80 crore of Q3/FY 2019-20.
Meanwhile, JK Cement also informed that the board of the company in its meeting held on Saturday approved the setting up of an integrated greenfield grey cement plant of four million tonnes per annum by its wholly-owned subsidiary Jaykaycem (Central) Ltd at Panna, Madhya Pradesh.
With a split grinding unit in Uttar Pradesh, the project has an estimated cost outlay of Rs 2,970 crore.