JK Paper Q4 net leaps 278% at ₹56 crore

Paper manufacturer JK Paper has reported a net profit of ₹56.32 crore for fourth quarter of financial year 2016-2017. This was up by 278 per cent compared with the ₹14.89-crore profit in the corresponding period of fiscal 2015-2016. The Board also recommended a dividend of ₹1.50 per share, amounting to ₹29.50 crore on the equity share capital for the year ended March 31, 2017.

In an official statement, the company said that income from operations was ₹787.93 crore. Commenting on the results, Harsh Pati Singhania, Vice-Chairman & Managing Director, said: “The company has achieved its highest sales and profitability during the year. Increased volumes, better sales realisation and improved operating parameters have resulted in better performance throughout the year.”

The per capita consumption of paper in India is 11 kg compared with 26 kg in Asia and 56 kg globally.

The company said that it continues to enhance its farm forestry programme, planting more trees than it uses, making it wood positive.