DNA(DNA Money) - Delhi

JK Paper net profit doubles to Rs,70 cr in Q3

Date: 31/01/2018 | Edition: Delhi | Page: 3 | Source: PTI | Clip size (cm): W: 4 H: 17

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Extracted Text data: New Delhi: JK Paper on Tuesday reported an almost twofold jump in standalone net profit to Rs 69.81 crore for the third quarter ended De-cember 31, led by volume growth and operational effi-ciencies. The company had posted a net profit of Rs 35.89 crore in October-December quar-ter last year, JK Paper said in a statement. Total income during the quarter under review stood at Rs 796.76 crore, as against Rs 677.63 crore in the year-ago period. JK Paper vice chairman & MD H P Singhania said, "Higher volume, better prod-uct mix, operating efficien-cies, lower finance costs from better working capital management and continu-ous deleveraging have all contributed to the improved performance quarter-on-quarter." Total expenses were at Rs 704.47 crore, up 12.57% from Rs 625.79 crore in the year-ago period. On the outlook, he said, "As paper and board demand continues to grow in India and given the company's im-proved financial position, JK Paper is looking at organic and inorganic growth oppor-tunities including in packag-ing board and those arising from the resolution process of NCLT." —PT1