Srinagar: JK cements has recorded a whopping fall of Rs 1.81 Crore in profits during the fiscal 2012-13. The figures suggest the government-owned JK Cements earned a profit of Rs. 4.35 Crore during the year 2011-12 as against just Rs 2.53 Crore in 2012-13, showing the loss of close to two crore rupees.
The details maintained further that the sales of the JK cements have also gone down during the last year. During 2012, JKCL produced 177550 metric tons of the cement and made the sale of over Rs 120 Cr. In 2013- the production instead of getting increased, suddenly went down from 177550 to 167906 metric tons- showing the decline of 9644 metric tons in a year. Also JKCL in the year 2012-13 made the sale of just 11600 lakhs- It shows that the sales witnessed the down steep of 4.49 Crore in a year.
JKCL was incorporated as a fully owned government company in December 1974 with the objective to exploit the abundant deposits, make the quality cement available to the consumers at reasonable rates, besides filling up of the gap between demand and supply.
Interestingly, JKCL has expanded its capacity by installing additional unit of 600 tons per day plant. The project had the approval of the state cabinet at a cost of rupees 87.52 Crore comprising of Rs 26.27 Cr rupees as the contribution from the government towards companys share capital and 61.25 Crore as term loan from JK Bank.
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