JK Cement surges despite reporting 45% fall in Q4 consolidated net profit
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JK Cement is currently trading at Rs. 3179.15, up by 75.05 points or 2.42% from its previous closing of Rs. 3104.10 on the BSE.
The scrip opened at Rs. 3102.35 and has touched a high and low of Rs. 3288.90 and Rs. 3101.50 respectively. So far 16527 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3,288.90 on 30-May-2023 and a 52 week low of Rs. 2005.00 on 23-Jun-2022.
Last one week high and low of the scrip stood at Rs. 3288.90 and Rs. 2896.05 respectively. The current market cap of the company is Rs. 24485.15 crore.
The promoters holding in the company stood at 45.83%, while Institutions and Non-Institutions held 38.02% and 16.16% respectively.
JK Cement has reported results for fourth quarter (Q4) and year ended March 31, 2023.
The company has reported 85.45% rise in its net profit at Rs 159.97 crore for the quarter under review as compared to Rs 86.26 crore for the same quarter in the previous year. Total income of the company increased by 4.69% at Rs 2418.47 crore for Q4FY23 as compared to Rs 2310.13 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported 44.80% fall in its net profit at Rs 110.09 crore for fourth quarter ended March 31, 2023 as compared to Rs 199.44 crore for the same quarter in the previous year. However, total income of the company increased by 17.67% at Rs 2815.85 crore for Q4FY23 as compared to Rs 2392.98 crore for the corresponding quarter previous year.
For the year ended March 31, 2023, the company has reported 10.80% fall in its net profit at Rs 562.54 crore as compared to Rs 630.68 crore for the previous year. However, total income of the company increased by 16.11% at Rs 9081.53 crore for year under review as compared to Rs 7821.38 crore for year ended March 31, 2022.
For the year ended March 31, 2023, on the consolidated basis, the company has reported 38.30% fall in its net profit at Rs 419.08 crore as compared to Rs 679.21 crore for the previous year. However, total income of the company increased by 20.58% at Rs 9807.60 crore for year under review as compared to Rs 8133.69 crore for year ended March 31, 2022.
