JK Paper: Impact of 2nd wave yet to come; disruptions in the coming months, records PAT Rs. 128 Cr in Q4

JK Paper: Impact of 2nd wave yet to come; disruptions in the coming months, records PAT Rs. 128 Cr in Q4

New Delhi | 25th May 2021 | The Pulp and Paper Times:

JK Paper Ltd, one of India’s largest Paper Companies, on standalone basis recorded a turnover of Rs.979.03 Cr quarter ended March, 2021. Profit after Tax (PAT) stood at Rs.128.78 Cr as against Rs. 91.36 Cr, higher by 41 % over the same period last year. For the full year i.e. F.Y. 2020-21 (12 months), the Company clocked turnover of Rs. Rs. 2,991.37 Cr, and PAT of Rs. 322.19 Cr.

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Commenting on the results, Shri Harsh Pati Singhania, Vice Chairman & Managing Director, said “Higher production and sales volume coupled with improved net sales realisations resulted in better performance in Q4. Revival of demand which started in 3rd quarter, continued to gather momentum. While the impact from the ongoing 2nd wave of Covid-19 is yet to be fully seen, we expect some disruptions in the coming months.”

He added, “for F.Y. 2020/21 as a whole (12 months), the Company’s performance can be considered satisfactory as it comes in the backdrop of national and local lockdowns in the early part of the year, continued closure of schools, educational institutions and reduction in demand for various paper grades including office paper due to only partial re-opening of businesses and Government establishments. During the year, the Company focused on reducing cost, enriching product mix and serving its customers better. It was also able to bring down its finance cost emanating from better working capital management and reduction in the Company’s interest rate. Our people performed commendably despite personal and professional challenges emanating from the Covid-19 pandemic.” 

The Company’s performance on consolidated basis was also better in current quarter due to improved operational performance of The Sirpur Paper Mills, a step down subsidiary which became profitable during this period. The Packaging Board project at Unit CPM continues to progress well, despite constraints of supplies and manpower due to pandemic. The Company continued its plantation activities in order to procure adequate raw material at economical cost which has resulted in a steady reduction in input cost.

Web Title: JK Paper Impact of 2nd wave yet to come disruptions in the coming months records PAT Rs 128 Cr in Q4