JK Paper Q3 net up 18% at Rs 132 cr

JK Paper Ltd on Monday reported 18 per cent increase in consolidated net profit at Rs 131.85 crore in the third quarter ended December, 2019, on the back of lower input costs and high operating efficiencies. The company had posted consolidated net profit of Rs 111.44 crore in the same quarter last fiscal, JK Paper said in a regulatory filing.

Total income during the period under review stood at Rs 849.25 crore as compared to Rs 883.56 crore in the year-ago period. Commenting on the performance, JK Paper Vice Chairman & Managing Director Harsh Pati Singhania said the company was able to deliver strong EBITDA and net profit despite reduction in selling prices during the quarter, due to lower input costs and continued high operating efficiencies.

"Lower finance cost arising from de-leveraging has also contributed favourably. Increased procurement from areas closer to the mills resulting from the company's plantation activities has led to a steady reduction in raw-material cost," he added.

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