JK Paper shares rise nearly 4% after over two-fold increase in Q3 net

Shares of JK Paper on Wednesday jumped nearly 4 per cent after the company reported over two-fold increase in consolidated net profit for the third quarter ended December 2021.

The stock gained 3.61 per cent to settle at Rs 243.65 on BSE. During the day, it rallied 5.46 per cent to Rs 248.

On NSE, it jumped 3.17 per cent to close at Rs 242.45.

In volume terms, 2.14 lakh shares were traded on BSE and over 25 lakh on NSE.

JK Paper on Tuesday reported over two-fold increase in consolidated net profit to Rs 151.05 crore for the third quarter ended December 2021, helped by growth in volume.

The company had logged a net profit of Rs 64.59 crore in the October-December period a year ago, JK Paper said in a regulatory filing.

The total income increased to Rs 1,056.41 crore during the period under review,

against Rs 770.45 crore in the year-ago period, the company said.