JK Cement Faces Profit Dip Amid Revenue Pressure

JK Cement Ltd reported a 22.52% drop in consolidated net profit to Rs 136.15 crore for Q2 2024, down from Rs 175.73 crore last year. Revenue fell 7% to Rs 2,560.12 crore, accompanied by a marginal rise in total expenses. The firm's total income decreased by 6.62% to Rs 2,597.90 crore.

JK Cement Ltd announced a significant 22.52% drop in its consolidated net profit, posting Rs 136.15 crore for the second quarter of the 2024 fiscal year, compared to a profit of Rs 175.73 crore over the same period last year, as revealed in a recent regulatory filing.

The company's revenue from operations during the quarter also saw a decline of 7%, falling to Rs 2,560.12 crore. This is in contrast to revenue totalling Rs 2,752.77 crore for the corresponding quarter of the previous fiscal year, highlighting a period of economic pressure for the cement giant.

While JK Cement's total expenses slightly increased to Rs 2,545.25 crore, total income, which includes other income streams, dropped by 6.62% to Rs 2,597.90 crore. The company retains an installed Grey Cement capacity of 24 MTPA and is noted as a leading global manufacturer of white cement with capacities of 1.20 MTPA for both white cement and wall putty.

(With inputs from agencies.)