Financial Chronicle - Delhi

JK Paper Q4 net rises over 3-fold to Rs 56 crore

Date: 17/05/2017 | Edition: Delhi | Page: 4 | Source: Bureau | Clip size (cm): W: 4 H: 23

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Extracted Text data: FC BUREAU New Delhi JK Paper has announced a more than three-fold increase in its net profit at Rs 56.32 crore for the fourth quarter ended March 31, 2017, mainly on higher sales. The paper maker had Rs 14.89 crore as net profit in the corresponding quarter last year. Total income during the quarter was Rs 743.44 crore against Rs 686.96 crore in the year-ago period. For the entire 2016-17 financial year, JK Paper's net profit was Rs 174.49 crore while sales were at Rs 2,798.83 crore (consolidated). JK Paper vice chair-man and MD Harsh Pati Singhania said: "In-creased volumes, better sales realisation and im-proved operating param-eters have resulted in better performance throughout the year." The company's CFO V Kumaraswamy said prior to this there had been a continuous dip in prices for last two-three years. Prices were good in 2016-17 as the gap in demand-supply started closing in. While there was an increase in demand, there was no commensu-rate rise in supplies. "We continue to see similar performance this year as no capacity is being added," he said.