JK Cement Q1FY07 net up by 843 pc

New Delhi, July 30 (UNI) JK Cement Ltd today posted an increase of 843 per cent in its net profit at Rs 33 crore during the first quarter ended June 30, 2006, as against Rs 3.5 crore in the corresponding period last year.

The company's gross turnover stood at Rs 346.9 crores, an increase by 35 per cent, compared to Rs 257.6 crore in the corresponding quarter of the previous year.

''This impressive growth is attributed to farsightedness on the part of the management and the hard work and dedication shown by all the workers. The company, as part of its expansion plan, last year decided on increasing the production capacity and to improve the bottom-line by reducing the power cost by setting up power plants,'' Board of Directors of JK Cement said.

JK Cement has two Grey Cement plants at Nimbahera and Mangrol with an aggregate installed capacity of 4.0 million tonnes and is one of the top five producers of grey cement in the northern region.

It is also the second largest producer of White Cement in the country having manufacturing facility at Gotan with an annual installed capacity of 0.35 million tonnes.

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