JK Cement net profit dips 76% at Rs 18 cr

Kanpur-based JK Cement has posted a decline of 75.55 per cent in its net profit at Rs 17.76 crore for the quarter ended September 30 compared with Rs 72.63 crore in the corresponding quarter last year. Net sales during the period were flat at Rs 360.66 crore against Rs 356.32 crore last year.

Continuous pressure on cement prices and rising input costs impacted the profit of the company. Its costs on power and fuel during the quarter alone rose by 43.5 per cent to Rs 105.38 crore.

Earning per share stood at Rs 2.45 in the quarter against Rs 10.4 last year. On the Bombay Stock Exchange, the company ended the week at Rs 54.05, down 8.85 per cent.