JK Cement Q4 net profit soars two-fold to Rs 964.5 million

JK Cement’s standalone net profit more than doubled to Rs 964.5 million for the fourth quarter ended March 2018, helped by lower tax expenses.
 
The company had posted a net profit of Rs 425.7 million in the same quarter of the previous financial year. Its total revenue during the quarter under review stood at Rs 13.6925 billion. It was Rs 12.5527 billion in the year-ago period, JK Cement said in a Bombay Stock Exchange filing.
 
During the quarter under review, the firm reported tax expense of Rs 265.3 million as against Rs 745.8 million in the corresponding quarter a year ago. For the financial year ended March 31, 2018, the company posted a standalone net profit of Rs 3418.7 million.
 
It had posted a net profit of Rs 2107.8 million in 2016-17. The total revenue for FY18 was at Rs 48.8582 billion as compared to Rs 44.7915 billion 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 directors has recommended a dividend of Rs 10 per equity share for the financial year ended on March 31, 2018.

The board has also decided to raise up to Rs 5 billion by issue of secured/redeemable non-convertible debentures in one of more series/tranches on private placement basis.