JK Cement reported a 42.3 percent decline in net profit on Sunday. 96.6 crores for the quarter ending December 2022. it is against net profit 167.3 million in the year-ago period, the company said in its regulatory filing.
Revenue from operations increased by 17 percent 2,288 crore which is against 1,940.4 crore in the same quarter last year JK Cement in filing.
EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter was down 29.1 percent 262.9 crore as against 370.80 crore in the year-ago period.
Whereas, the EBITDA margin stood at 11.5 per cent as against 19.1 per cent in the year-ago period.
The company has Rs. 100 crore on private placement basis, the regulatory filing noted.
JK Cement said the funds will be used for long-term growth and general corporate objectives.
“Capital expenditure, repayment of long-term borrowings as per normal repayment schedule or for any other purpose relating to the business, inter alia, financing long-term growth including general corporate purposes. Pending proceeds of NCDs as before Utilization, the company intends to invest in high quality interest bearing instruments including deposits with banks and investments in mutual funds, bonds, government securities and other debt instruments,” the filing added.
The company’s stock fell 2.55 percent on Friday. 2,610 on BSE.
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