JK Cement hits a new high
By
Research Desk
about 8 years ago
JK Cement posted a bumper set of numbers for Q1FY17, mainly on the back of lower power and fuel costs. Like all cement companies, JK Cement too reaped benefits of lower fuel costs, which was down by a good 22% (YoY).
This along with the 9% rise in net sales at Rs.887 crore helped boost the bottomline. EBITDA for the quarter rose 99% at Rs.177 crore while margins were up smartly from 10.9% v/s 19.7%. Net profit for the quarter was up from a mere Rs.1 crore to Rs.61 crore. This surge in net profit was despite an exceptional expense of Rs.11 crore which was on account of impairment charges.
Based on this performance, the stock price of JK Cement hit a new 52-week at Rs.847 today, with volumes rising 3 times.