JK Paper reports 152% jump in Profit after Tax for Q1 (Fy 22-23), robust paper demand remained strong

JK Paper reports 152% jump in Profit after Tax for Q1 (Fy 22-23), robust paper demand remained strong

New Delhi | 29th July 2022 | The Pulp and Paper Times:

JK Paper Ltd., one of India’s largest Paper Companies recorded its best ever quarterly consolidated Turnover at Rs.1,508.05 Crore (up 109%), an EBITDA of Rs.458.09 Crore (up 104%) and Profit after Tax (PAT) of Rs.261.98 Crore (up 152 %) for the quarter ended June’22 (Q1) as compared to corresponding quarter of previous financial year. 
Commenting on the results, Mr. Harsh Pati Singhania, Vice Chairman & Managing Director, said, “the Company was able to deliver strong performance on a quarter to quarter and YoY basis on the strength of higher production and sales volume and enhanced sales realisation coupled with an enriched product mix. This is inspite of adverse impact of substantial increase in major input costs in the recent period. Demand for Paper and Board continues to remain strong. The new Packaging Board Line has stabilised well and achieved high capacity utilisation. 

The Sirpur Paper Mills Ltd., a step-down subsidiary, continued to contribute to the Company’s overall profitable growth.”

During the quarter, Unit JKPM, Odisha, has been awarded with Platinum (First) Prize in Overall Digitalisation Category of FICCI Industry 4.0 award. The Company continues to pursue its social farm forestry initiatives aggressively in the areas close to the Plants. 
 

Web Title: JK Paper reports 152% jump in Profit after Tax for Q1 (Fy 22-23), robust paper demand remained strong