JK Cement Ltd.'s net profit fell in the first quarter of FY24, missing analysts' estimates.
The cement manufacturer's profit declined 29.5% to Rs 114.7 crore in the June quarter, as against Rs 162.7 crore in the year-ago period, according to an exchange filing. That compares with the Rs 129.4-crore consensus estimate of analysts tracked by Bloomberg.
JK Cement Q1 FY24 Highlights (Consolidated, Year-on-Year)
Revenues up 21.6% at Rs 2762.6 crore vs Rs 2272.4 crore (Bloomberg estimate: Rs 2624.9 crore).
Ebitda up 0.3% at Rs 407.7 crore versus Rs 406.4 crore (Bloomberg estimate: Rs 378.4 crore).
Margins at 14.7% versus 17.9% (Bloomberg estimate: 14.4%).
Net profit down 29.5% at Rs 114.7 crore versus Rs 162.7 crore (Bloomberg estimate: Rs 129.4 crore).
JK Cement's shares closed 2.47% lower at Rs 3253.80 apiece, compared to 0.59% decline in the NSE Nifty 50 on Friday at 3:30 p.m.
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