Financial Chronicle - Hyderabad

JK Paper Q2 net up 28.8% to Rs56.63 cr

Date: 14/11/2017 | Edition: Hyderabad | Page: 4 | Source: Bureau | Clip size (cm): W: 5 H: 20

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Extracted Text data: PAPER on Monday re-ported 28.82 per cent in-crease in standalone net profit to Rs 56.63 crore for the quarter ended on Sep-tember 30, 2017, helped by improved operating effi-ciencies and lower finance costs. It had posted a net profit of Rs 43.96 crore in the July-September quarter a year-ago, JK Paper said in a statement. However, its total in-come from operations dur-ing the period under re-view was down 6.90 per cent to Rs 677.86 crore as against Rs 728.16 crore of the corresponding quarter last fiscal. Commenting on the re-sults, JK Paper Vice Chair-man & Managing Director Harsh Pati Singhania said: "Better product and market mix, improved operating ef-ficiencies and lower fi-nance costs have con-tributed to better perform-ance." JK Paper's total expenses in the second quarter of 2017- 18 were down 10.45 per cent to Rs 596.38 crore as against Rs 666.03 crore of the corresponding peri-od. Shares of JK Paper today settled at Rs 122.95 on BSE, down 2.07 per cent from previous close.