JK Cement Q1 Results: Profit slips 29.4% to Rs 113.46 crore

JK Cement Ltd has reported a 29.43% decline in its consolidated net profit for the first quarter that concluded on June 30, 2023.

The company's net profit fell to Rs 113.46 crore, down from Rs 160.79 crore in the same April-June period the previous year, as stated in a regulatory filing.

This reduction in net profit can be attributed to various factors that may have affected the company's financial performance during this period.

However, the company did observe a positive trend in its revenue from operations, which saw a significant increase of 21.57%, amounting to Rs 2,762.62 crore in the quarter under review.

This rise in revenue showcases the company's ability to generate income despite the challenges it faced.

On the expenditure side, JK Cement's total expenses during the first quarter of FY 2023-24 were reported at Rs 2,598.63 crore, indicating a notable surge of 27.58%.

This increase in expenses might have been influenced by various factors, including inflation, rising production costs, or strategic investments.

When considering the overall financial landscape, JK Cement's total income for the June quarter stood at Rs 2,794.22 crore, marking a rise of 22.16% compared to the corresponding period in the preceding year.

This growth in total income suggests that despite the decline in net profit and the increase in expenses, the company managed to bolster its overall earnings.