JK Paper profit jumps to Rs 334 crore in December quarter

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.

Its revenue from operations went up 60.51 percent 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 percent in the December quarter.

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 percent 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 percent from the previous close.