JK Paper Q2 net profit jumps over three-fold to Rs 118 crore

JK Paper Ltd on Wednesday reported an over three-fold jump in consolidated net profit at Rs 118.38 crore for the second quarter ended September 2021 on back of higher volumes and better realisation

JK Paper Ltd on Wednesday reported an over three-fold jump in consolidated net profit at Rs 118.38 crore for the second quarter ended September 2021 on the back of higher volumes and better realisation.

The company had posted a consolidated net profit of Rs 33.4 crore in the same quarter last fiscal, JK Paper Ltd said in a regulatory filing.

Consolidated net revenue from operations stood at Rs 944.37 crore in the second quarter as compared to Rs 638.44 crore in the year-ago period.

Total expenses were higher at Rs 807.13 crore as against Rs 599.19 crore earlier.

"Higher volume and better realisation over the corresponding quarter of the previous financial year contributed to improved performance despite sharp increase in input cost," JK Paper said.

The company further said operations of its plantation in Myanmar, which is a jointly controlled entity through its subsidiary in Singapore, with regards to maintenance of biological assets has been scaled down temporarily due to COVID-19, although access to the site is not affected.

JK Paper has an investment of Rs 24.13 crore at the plantation.

"The operations will be resumed once the COVID risks subside. The management is continuously assessing the situation and does not foresee any significant financial impact on this account," it added.