JK Cement reports 1Q14 profit


Updated Tue, 20 May 2014 09:53:37 GMT

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.