Hindu Business Line - Delhi

JK Paper Q4 net leaps 278% at Rs 56 crore

Date: 17/05/2017 | Edition: Delhi | Page: 3 | Source: Bureau | Clip size (cm): W: 9 H: 10

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Extracted Text data: OUR BUREAU New Delhi may 16 Paper manufacturer JK Paper has reported a net profit of T5632 crore for fourth quarter of financial year2016-2017. This was up by 278 per cent com-pared with the 14.89-crore profit in the corresponding period of fiscal 2015-2016. The Board also recommended a di-vidend of 11.50 per share, amounting to X29.50 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 T787.93 crore. Commenting on the res-ults, 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 II kg com-pared 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, mak-ing it wood positive.