India: JK Cement’s income has fallen due to growing raw material, power, fuel and freight costs. Its income fell by 27% year-on-year to US$24.5m in the nine months to 31 December 2018 from US$34.2m in the same period in 2017. Its expenses rose by 2.5% to US$456m from US$445m. Its revenue increased by 1.4% to US$481m from US$474m. Additional costs also arose during the reporting period from an US$18,000 fine levied by the Competition Commission of India in August 2018. The cement producer is challenging the penalty.
JK Cement’s income falls as expenses rise
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