JK Cement Ltd’s net profit jumps 18% to Rs 160 cr for Q4FY20
New Delhi: JK Cement Ltd’s consolidated net profit jumped about 18 percent to Rs 160 crore for the fourth quarter of 2019-20 fiscal as against a net profit of Rs 136 crore in the corresponding quarter of the previous fiscal.
The consolidated revenue from operations fell marginally to Rs 1,545 crore in the fourth quarter of the 2019-20 fiscal as compared to Rs 1,564 crore in the same quarter of the previous fiscal.
For the entire financial year 2019-20, the consolidated net profit of the company jumped 84 percent to Rs 483 crore as compared to a net profit of Rs 263 crore in the previous financial year.
For the entire financial year 2019-20, the consolidated revenue from operations of the company jumped about 11 percent to Rs 5,801 crore as compared to Rs 5,258 crore in the previous financial year, the company said in a regulatory filing.
The company also proposed a an interim dividend of Rs 7.50 per equity share, that is, 75 percent of equity share of Rs 10 each(fully paid up) as decided by the board of the company in February 2020 as the final dividend for the fiscal 2019-20.
The company also plans to raise Rs 500 crore by issue of secured/redeemable non-convertible debentures. This can be done in one or more batches.
The company also accepted the resignation of KN Khandelwal who was working as Non Executive Non Independent Director of the company. JK Cement also appointed for five years three additional directors Raghavpat Singhania, designated as Executive Director (corporate and white cement), Madhav Krishna Singhania, designated as Executive Director (Grey Cement) and Ajay Kumar Saraogi, designated as Executive Director and CFO to act as whole time directors of the company.