JK Paper Q1 net down 41% at Rs 14.14 cr

Branded paper producer JK Paper today posted a 41.71% dip in net profit to Rs 14.14 crore for the first quarter ended June 30 against Rs 24.26 crore in the year-ago period.

The total income for the period stood at Rs 409.82 crore, up 7.76% from Rs 380.3 crore in the same period last year.

"The selling prices improved during the quarter and availability of linkage coal was better compared to erratic supplies last year. Raw material and chemical prices however continue to be a matter of concern," company's Managing Director Harsh Pati Singhania said.

The company's expansion of 2,15,000 tonne per annum of pulp and 1,65,000 tpa of office paper capacity in Odisha is progressing as per schedule, he added.

"With this, the company's total capacity will increase from 2.90 lakh tpa to 4.55 lakh tpa. We expect the saleable production from the project will be available towards the end of the current fiscal year," Singhania said.