JK Cement dips on weak Q4 earnings
Q4 net profit down 30% year-on-year at Rs 56 crore mainly due to lower sales and higher freight outgo
JK Cement is trading lower by 4% to Rs 282 on NSE after reporting 30% year-on-year (yoy) fall in standalone net profit at Rs 56.20 crore for the quarter ended March 31, 2013 (Q4) on account of lower sales and higher freight outgo. The maker of building material had reported profit of Rs 80.34 crore in the corresponding quarter of the previous fiscal.
Net sales of the company dipped 4.6% to Rs 769 crore from Rs 806 crore a year ago. Total expenses, on the other hand, went up by 4.5% yoy to Rs 670 crore, mainly due to 15% yoy rise in freight charges at Rs 171 crore during the quarter.
The stock opened at Rs 285 and has seen a combined around 3,800 shares changing hands on the counter in early morning deals on NSE and BSE.
Net sales of the company dipped 4.6% to Rs 769 crore from Rs 806 crore a year ago. Total expenses, on the other hand, went up by 4.5% yoy to Rs 670 crore, mainly due to 15% yoy rise in freight charges at Rs 171 crore during the quarter.
The stock opened at Rs 285 and has seen a combined around 3,800 shares changing hands on the counter in early morning deals on NSE and BSE.