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JK Cement hits 52-week low as Q1 profit halves

Q1 net profit down 55% yoy at Rs 31 crore due to lower realization and higher input costs.

SI Reporter  |  Mumbai 

JK Cement has cracked 10% to Rs 184 after the cement maker has reported a sharp 55% year-on-year decline in its net profit at Rs 31 crore for the quarter ended June 30, 2013 due to lower realization and higher input costs. The company had posted profit of Rs 69 crore in year ago quarter.

The company’s total income from operations also dipped 10% to Rs 661 crore during the quarter from Rs 737 crore in corresponding period of previous fiscal, JK Cement said in a statement.

EBITDA margins contracted by nearly 600 bs to 15.55% from 21.47% during the recently concluded quarter.

The stock opened at Rs 202 and hit a 52-week low of Rs 181 on NSE. A combined around 39,700 shares changed hands on the counter till 1208 hours on NSE and BSE.

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First Published: Mon, July 29 2013. 12:08 IST