Latest News | JK Paper Q3 Profit Soars to Rs 151 Cr

New Delhi, Feb 8 (PTI) JK Paper on Tuesday reported over two- fold increase in consolidated net profit at Rs 151.05 crore for the third quarter ended December 2021 helped by growth in volume.

The company had logged a net profit of Rs 64.59 crore in October-December period a year ago, JK Paper said in a regulatory filing.

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Total income was higher at Rs 1,056.41 crore during the period under review as against Rs 770.45 crore in the year-ago period, the company said.

"Growth in volume and higher realisation have contributed to better performance in the quarter as compared to corresponding quarter, despite sharp increase in major input costs," JK Organisation group company said in a post earning statement.

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Total expenses of JK Paper, maker of branded copier paper, coated paper and packaging boards, were at Rs 846.42 crore as against Rs 667.45 crore.

Meanwhile, in a separate filing, JK Paper said its board has approved the proposal to issue redeemable Non-Convertible Debentures of up to Rs 100 crore in one or more tranches for refinancing its existing borrowings and general corporate purposes.

Shares of JK Paper Ltd on Tuesday settled at Rs 235.15 apiece on BSE, down 1.51 per cent from its 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)