JK CEMENT : JK Cement, the largest cement producer in India, disclosed a substantial drop in its standalone net profit for the second quarter ended September 2008. During the quarter, the profit of the company declined 75.57% to Rs 177.63 million from Rs 727 million in the same quarter, last year. Net sales for the quarter rose marginally 1.46% to Rs 3,616.16 million, while total income for the quarter rose marginally 0.90% to Rs 3,616.16 million, when compared with the prior year period. The company reported earnings of Rs 2.54 a share during the quarter, registering 75.58% decline over prior year period.

During the quarter, the operating margin of the company dropped to 14.22% compared with 28.17% in the previous year period. Interest cost increased 17.88% to Rs 101.38 million while depreciation cost rose 33.55% to Rs 133.55 million over previous year period.

In the month of September 2008, the company has commissioned a 7.5 M.W. Thermal Power Plant at Gotan and a 0.47 million ton Grey Cement Plant at Gotan.

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