New Delhi, May 16 (PTI) JK Paper Ltd on Tuesday reported a 66.6 per cent jump in consolidated net profit at Rs 283.52 crore in the fourth quarter ended March 31, 2023, driven by strong revenue growth.

The company had posted a consolidated net profit of Rs 170.17 crore in the same period previous fiscal, JK Paper Ltd said in a regulatory filing.

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Consolidated revenue from operations in the fourth quarter stood at Rs 1,806.99 crore as compared to Rs 1,430.87 crore in the year-ago period.

For 2022-23, consolidated net profit was at Rs 1,208.22 crore as against Rs 543.82 crore in 2021-22.

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Consolidated revenue from operations for FY23 stood at Rs 6,772.17 crore as compared to Rs 4,244.33 crore in FY22.

"Higher volume coupled with increased realisation led to better operating performance during the year. Q4 however, witnessed reduced selling prices in certain product segments in line with global prices. Correspondingly some input costs have also softened," JK Paper Vice Chairman & Managing Director Harsh Pati Singhania said.

He further said, "Our new capacity in the packaging board has helped us to reach out to new customers and develop additional product ranges."

The board of directors has recommended a final dividend of Rs 4 per share (40 per cent), for the financial year ended March, 31, 2023 in addition to the interim dividend of Rs 4 per share (4O per cent) paid during the year, the company said.

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