Wavemaker India bags JK Cement's media business?: Exclusive
On May 12, JK Cement announced its fourth quarter financial results, reporting an increase of 101 percent in its consolidated net profit to Rs. 219.75 crore.
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One of India’s leading cement manufacturing companies JK Cement’s media business has likely been bagged by Wavemaker India, according to sources. Industry sources indicate that the GroupM-owned media investments firm was given the mandate as the company looks to increase visibility on the back of its expansion plans.
Meanwhile, in response to the article JK Cement shared the following statement: "JK Cement has not yet awarded the media mandate to any agency. The selection process is not complete yet, and no final decision has been made."
It added, "Any updates regarding our media mandate will be communicated through proper channels in due course."
In an official statement, Wavemaker said, “Wavemaker denies the recent reports claiming they had been awarded the media mandate for JK Cement. We hereby clarify that the information circulating is inaccurate and we are not currently engaged with JK Cement in any such capacity.”
On May 12, JK Cement announced its fourth quarter financial results, reporting an increase of 101 percent in its consolidated net profit to Rs. 219.75 crore. The company reported Rs. 3105.77 crore as consolidated revenue from its operations in the March quarter, an increase of 11 percent from Rs. 2777.88 crore last year.
At the Abby awards during the Goafest this year, Wavemaker India won the title of ‘Agency of the Year’ with a total of 16 metals. The agency won a total of four gold, nine silver and three bronze trophies.
JK Cement Ltd. is one of India’s leading manufacturers of Grey Cement and one of the leading White Cement manufacturers in the World. JKCement’s operations commenced with commercial production at its flagship grey cement unit at Nimbahera, Rajasthan in May 1975.
The Company has an installed capacity of 22.2 MTPA of Grey Cement, making it one of the top cement manufacturers in the country. Its Grey Cement business has a strong Pan-India presence across 15 states with an enhanced reach in the states of Uttar Pradesh and Madhya Pradesh. JK White Cement is sold across 36 countries around the globe and the Company has a strong international presence with two subsidiaries, JK Cement Works Fujairah FZC and JK White Cement (Africa) Ltd.
The article has been updated with comments from the company and agency.
