JK Paper Q1 net profit jumps 63 pc to Rs 136.27 cr

New Delhi, Jul 27 (PTI) JK Paper Ltd on Monday reported a 63 per cent jump in consolidated net profit to Rs 136.27 crore in the first quarter ended June 30 on the back of higher volume and improved product mix.

The company had posted a consolidated net profit of Rs 83.75 crore in the corresponding quarter last fiscal, JK Paper said in a regulatory filing.

Its consolidated revenue from operations in the first quarter was Rs 1,998.67 crore against Rs 1,771.78 crore in the year-ago period, it added.

Total expenses in the quarter under review were higher at Rs 1,736.03 crore compared to Rs 1,567.55 crore in the year-ago period, the company said.

“While the paper and board market remained challenging, higher volume and improved product mix led to better

performance during the current quarter as compared to the corresponding period,” JK Paper Chairman and Managing Director Harsh Pati Singhania said.

The company’s packaging conversion businesses have also done well in terms of revenue and profit, he added.

Singhania said JK Paper has acquired an additional stake of 15.40 per cent in Borkar Packaging Pvt Ltd during the quarter in line with the share purchase subscription and shareholders’ agreement entered into with the company. PTI RKL BAL BAL