Companies

JK Paper Q3 net up at Rs 11.4 cr

PTI New Delhi | Updated on March 12, 2018 Published on February 11, 2015

Leading paper manufacturer JK Paper today reported a standalone net profit of Rs 11.40 crore in the third quarter ended December 31, 2014 on the back of enhanced capacity and improved efficiency from its new plant in Odisha.

The company had posted a standalone net loss of Rs 39.38 crore in the October-December period last fiscal, JK Paper said in a statement.

Net sales during the period under review increased 16.8 per cent to Rs 544.73 crore from Rs 466.36 crore in the year-ago quarter.

Commenting on the improved performance, JK Paper President A S Mehta said: “This is because of capacity expansion as we have started a new plant in Odisha. The new plant has increased our volume, which has resulted in our topline growth and it is efficient on raw material and power consumption.”

The company, which controls around 26 per cent market share in the branded paper category, said it would continue to grow further.

“The Indian paper industry is growing between 6-8 per cent and we are growing above 20 due to our brand strength. We see a higher degree of growth,” Mehta added.

Shares of the company were trading 6.51 per cent up at Rs 36.80 per scrip during afternoon session on the BSE.

Published on February 11, 2015
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