Hindu Business Line - Bangalore

Higher volume, better product mix boost JK Paper net in Q3

Date: 31/01/2018 | Edition: Bangalore | Page: 6 | Source: Bureau | Clip size (cm): W: 9 H: 16

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Extracted Text data: OUR BUREAU Chennai, January 30 JK Paper has nearly doubled its net profit for the third quarter ended December 31, 2017, compared with the cor-responding quarter in the previous year. The growth in net profit was supported by increase in volumes and cost efficiency on raw material side with captive pulp wood from farm forestry, said V Ku-maraswamy, CFO. The paper and board man-ufacturer has reported a net profit of 169.81 crore (135.89 crore) during the quarter on a total income of T796.76 crore (1677.63 crore). Volume growth was also supported by exports, he said. Activity has also picked up over the last three months in the renewable energy certific-ates market which contrib-uted about 125 crore, which is about t 17-18 crore more than in previous instances, he said. A press release quoting Harsh Pati Singhania, Vice-Chairman and Managing Dir-ector said: "higher volume, Harsh Pati Singhania, Vice-Chairman and Managing Director, JK Paper better product mix, operat-ing efficiencies, lower finance costs from better working capital management and continuous deleveraging have all contributed to the improved performance on quarter-to-quarter basis." "As paper and board de-mand continues to grow in India and given the com-pany's improved financial po-sition, JK Paper is looking at organic and inorganic growth opportunities includ-ing in packaging board and those arising from the resolu-tion process of NCLT."