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Our Bureau

New Delhi, April 19 The board of JK Paper Ltd, which met on Saturday, decided to close its current accounting year for the nine months ended March 31, 2008.

Hereafter, the financial year of the company will be April 1 to March 31. Previously, the company was following a July-to-June accounting year.

Mr Harsh Pati Singhania, Managing Director of the company, said, “The change was to synchronise the accounting year with the tax year, thus avoiding duplication of work”.

He also added that its production has gone up 14 per cent for the three months ended March 2008 compared to the same period last year and the total sales volume, including outsourced sales, have gone up 15 per cent during the same period. The effect of the newly commissioned Packaging Board Plant will be better reflected in the financial year 2008-09.

JK Paper’s portfolio of products includes other brands such as JK Cote, JK Excel Bond and JK SHB Maplitho, all of which enjoy great popularity with consumers.

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J K Paper changes accounting year

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