Revenue from operations grew by 20.47% year on year to Rs 2,934.84 crore in the quarter ended 31 December 2023.

Profit before tax stood at Rs 409 crore in Q3 FY24, down 21.91% from Rs 69.19 crore reported in the corresponding quarter previous year.

Total expenses rose 7.49% YoY to Rs 2,564.29 crore in the third quarter of FY24. Cost of raw material consumed was at Rs 455.85 crore (up 13.37% YoY), employee benefit expenses stood at Rs 198.82 crore (up 24.2% YoY) while power and fuel came in at Rs 650.6 crore (down 6.52%) during the period under review.

On the margins front, the company's operating margin improved to 21.30% in Q3 FY24 as against 10.15% reported in Q3 FY23. Net profit margin increased to 9.55% in Q3 FY24 as compared to 1.51% recorded in the same period last year.

In nine months ended December 2023, the company’s consolidated net profit surged 81.84% to Rs 571.08 crore on 21.72% rise in revenue to Rs 8450.24 crore in 9M FY24 over 9M FY23.

Meanwhile, the company’s board approved expansion of 6 million tonnes per annum (MnTPA) comprising brown field expansion in clinker capacity at Panna by 3.3 MnTPA (10,000 TPD) & cement grinding capacity by 3 MnTPA at Panna, Hamirpur and Prayagraj (1 MNTPA each); and 3 MnTPA greenfield cement grinding capacity in Bihar, to be commissioned in phases in 24 months from the date of start of work at site with a capital outlay of Rs 2,850 crore. It is also proposed to raise borrowing upto Rs 1,850 crore.

JK Cement is engaged in the manufacturing and selling of Cement and Cement related products.

Shares of JK Cement slipped 2.25% to Rs 3961.20 on the BSE.