JK Paper III Quarter net surges 18% at Rs 132 crore
New Delhi: On Monday, 27 Jan, JK Paper III Quarter net has reported a surge by 18%. Notably, the net profit stood at Rs 131.85 crores in the third quarter. Besides, on the back of lower input costs and high operating efficiencies, the company had made a consolidated net profit. However, JK Paper said that the profit in the same quarter last fiscal remained at Rs 111.44 crores. So then, total income during the period under review became Rs 849.25 crores. Comparatively, a year ago, the total income stood at 883.56 crores.
Generally, JK Paper came up as an Indian multi-industrial company. Significantly, the group has multi-businesses in multi-products at multi-locations. Also, it includes research and development institutes in different fields.
Despite this, the company’s Managing Director, Mr. Harsh Pati Singhania said that the company could not deliver strong EBITDA. Also, the net profit despite a reduction in selling prices continued at high operating efficiencies.
He then added that at lower finance cost coming from de-leveraging has contributed well. Besides, increased procurement from areas closer to the mills resulting from the company’s plantation activities led to a steady reduction in raw-material.