Latest News | JK Paper Profit Jumps to Rs 334 Cr in December Quarter
Get latest articles and stories on Latest News at LatestLY. JK Paper on Monday reported a more than two-fold increase in consolidated net profit at Rs 333.54 crore in the December quarter, mainly helped by higher sales volume.
New Delhi, Feb 6 (PTI) JK Paper on Monday reported a more than two-fold increase in consolidated net profit at Rs 333.54 crore in the December quarter, mainly helped by higher sales volume.
The company had logged a net profit of Rs 151.05 crore in the October-December period a year ago, JK Paper said in a regulatory filing.
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Its revenue from operations went up 60.51 per cent to Rs 1,643.06 crore in the third quarter of the current fiscal. It stood at Rs 1,023.62 crore in the corresponding quarter last year.
JK Paper's total expenses were at Rs 1,241.13 crore, up 46.63 per cent in the December quarter.
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Company's Vice Chairman & Managing Director H P Singhania said that higher capacity utilisation and growth in sales volume across all segments helped the company to improve its market share and deliver better performance. "While there has been a sharp increase in major input costs, higher realisation from the market has helped in its mitigation".
Sirpur Paper Mills, a step-down subsidiary, also contributed significantly to the company's overall profitable growth, he added.
JK Paper is a leading manufacturer of copier paper, coated paper and packaging boards in the country.
"During the quarter, the company acquired 85 per cent equity shares of Horizon Packs Private Ltd (HPPL) and Securipax Packaging Private Ltd (SPPL) and both these companies have become subsidiaries of JK Paper Ltd w.e.f. 12th December 2022," JK Paper said in its earning statement.
Shares of JK Paper Ltd on Monday settled at Rs 409.30 apiece on the BSE, up 2.08 per cent from the previous close.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)