JK Cement shares rise 9% on Q2 earnings; check details

Shares of JK Cement Ltd ended 9% higher on Monday after the firm reported a 62.18 per cent rise in consolidated profit to Rs 178.47 crore for the second quarter ended September 2023. Net profit in the September 2022 quarter stood at Rs 110.04 crore. The stock ended 8.71% higher at Rs 3404.70 in the current session. It gained 9.89% intraday to Rs 3442.  

Market cap of the firm climbed to Rs 26,301 crore. A total of 0.32 lakh shares of the firm changed hands amounting to a turnover of Rs 10.91 crore on BSE. JK Cement stock has a one-year beta of 0.8, indicating low volatility during the period.  

The stock hit a 52 week low of Rs 2542.65 on January 27, 2023 and a 52 week high of Rs 3477.24 on September 6, 2023.   

In terms of technicals, the relative strength index (RSI) of JK Cement stands at 46.1, signaling it's trading neither in the overbought zone nor in the oversold zone. JK Cement shares stand higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.   

Revenue from operations climbed 23.23 per cent to Rs 2,752.77 crore in Q2 against Rs 2,233.84 crore a year ago. Total expenses in Q2 rose 21.08 per cent to Rs 2,537.89 crore. 

Total income grew 23.66 per cent year-on-year to Rs 2,782.10 crore. Earnings per share climbed 59% to Rs 23.1 in the last quarter against Rs 14.5 in Q2 of the previous fiscal.  

Debt to equity ratio rose to 1.04 times in Q2 against 0.99 times in September 2022 quarter. 

JK Cement is engaged in the manufacturing and selling of cement and cement-related products. The company operates through various segments, such as grey cement, white cement, and allied products. 

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