JK Cement Q4 net soars 2-fold to Rs 96.45 crore

JK Cement's standalone net profit more than doubled to Rs 96.45 crore for the fourth quarter ended March 2018, helped by lower tax expenses.

The company had posted a net profit of Rs 42.57 crore in the same quarter of the previous fiscal.

Its total revenue during the quarter under review stood at Rs 1,369.25 crore. It was Rs 1,255.27 crore in the year-ago period, JK Cement said in a BSE filing.

During the quarter under review, the company reported tax expense of Rs 26.53 crore as against Rs 74.58 crore in the corresponding quarter a year ago.

For the fiscal ended March 31, 2018, the company posted a standalone net profit of Rs 341.87 crore. It had posted a net profit of Rs 210.78 crore in 2016-17.

Total revenue for FY18 was at Rs 4,885.82 crore as compared to Rs 4,479.15 crore in FY17.

The board of directors has recommended a dividend of Rs 10 per equity share for the financial year ended on March 31, 2018.

The board of the company has also decided to raise up to Rs 500 crore by issue of secured/redeemable non-convertible debentures in one of more series/tranches on private placement basis.