The cement maker announced that its board has approved increase in the borrowing limit of the company to Rs 12,000 crore from Rs 7500 crore at required time.
Further, the board of directors has also approved creation of charge and/or mortgage and/or hypothecation on the assets of the company against availing of loans/facilities upto Rs 12,000 crore.JK Cement is engaged in the manufacturing and selling of Cement and Cement related products.
The cement maker reported a consolidated net profit of Rs 283.82 crore in Q3 FY24, steeply higher than Rs 38.99 crore posted in Q3 FY23. Revenue from operations grew by 20.47% year on year to Rs 2,934.84 crore in the quarter ended 31 December 2023.
The scrip fell 0.43% to trade at Rs 4,258.55 on the BSE.
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