JK Cement reports 1Q14 profit
Published by Katherine Guenioui,
Editor
World Cement,
JK Cement has reported a 35.92% increase in net profit to Rs.763.82 million for the quarter ended 31 March 2014. Net sales were also up, at Rs.8327.14 million from Rs.7716 million in the same period last year – an increase of almost 8%.
At its board meeting, JK Cement recommended a dividend of Rs.3 per equity share. Mr Paul Hugentobler was appointed as an Additional Director in the Board of the Company, while Shri J. P. Bajpai resigned as Independent Director due to ill health.
Elsewhere in India, Jaiprakash Power Ventures Ltd is reportedly planning to raise Rs.3000 crore through various domestic/international options in order to fund ongoing projects and reduce debt. Measures include qualified institutional placements (QIPs) and external commercial borrowings (ECBs). The Jaypee Group has debt amounting to around Rs.60 000 crore and has been selling assets to try to bring this down.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/19052014/jk_cement_reports_1q14_profit_214/
You might also like
The World Cement Podcast - What's next for US Cement?
In this episode of the World Cement Podcast, we are joined by Mike Ireland, President and CEO of the ACA or American Cement Association. Listen in as Mike and David dive into a range of topics, including the ACA’s recent rebranding efforts, decarbonisation, policy and legislation, and the impact of AI on cement demand.
Tune in to the World Cement Podcast on your favourite podcast app today.
