JK Paper reports a 134 percent jump in Q3 profit after tax, maintain its leadership position in Cut –size office paper

JK Paper reports a 134 percent jump in Q3 profit after tax, maintain its leadership position in Cut –size office paper

New Delhi | 8th February 2022 | The Pulp and Paper Times:

JK Paper Ltd., One of India’s largest Paper producer reports a big jump in its Q3 profit. JK Paper recorded a Turnover of INR 1,093.87 Crore (up 35%) and EBITDA of INR 284.11 Crore (up 57%) on Consolidated basis over corresponding quarter ended December 2020. Profit After Tax (PAT) improved to INR 151.05 Crore (up 134%). For the nine months ended December 2021, Turnover was at INR 2,813.46 Crore (higher by 39%), EBITDA INR 763.66 Crore (higher by 87%) and PAT INR 373.65 Crore (higher by 271%) over corresponding period. 

Commenting on the results, Shri Harsh Pati Singhania, Vice Chairman & Managing Director, said “the improvement in Company’s performance is due to recovery in the paper segment and growth in Production and Sales volume coupled with higher realisation. This is despite sharp increase in major input costs in the recent period. JK Paper continued to maintain its leadership position in Cut –size office paper and a strong presence in Coated Paper, Packaging Board and niche products. Sirpur Paper Mills Ltd., a step-down subsidiary, turned in strong performance.” 

He added, “the commercial production of the new Packaging Board Plant at Unit CPM, Gujarat, has commenced from 14th January, 2022. This will increase the Company’s total Paper & Board capacity to 7.61 Lac TPA on Consolidated basis and will enhance market share in fast-growing Packaging Board segment. JK Paper continued to focus on developing plantations which helps raw material security as well as creating jobs for farmers in the local community.” 

The Management has been closely monitoring the Covid-19 situations and its possible effects. Necessary precautions regarding hygiene, santisation, social distancing, care and protection of the employees continue to be followed.

                     

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