JK Paper hits 52-week high after declaring good Q1 result

JK Paper rose 1.3% to Rs 62.35 at 10:19 IST on BSE after net profit surged 79% to Rs 26.66 crore on 4.7% rise in net sales to Rs 606 crore in Q1 June 2016 over Q1 June 2015.

The Q1 result was announced after trading hours yesterday, 25 July 2016.

Meanwhile, the S&P BSE Sensex was down 5.10 points or 0.02% at 28,090.24

On BSE, so far 3.28 lakh shares were traded in the counter as against average daily volume of 63,266 shares in past one quarter. The stock hit a high of Rs 64.75 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 62.15 so far during the day. The stock had hit a 52-week low of Rs 34.25 on 24 August 2015. The stock had outperformed the market over the past one month till 25 July 2016, rising 12.11% compared with Sensex's 6.43% rise. The scrip also outperformed the market in past one quarter, gaining 26.13% as against Sensex's 9.41% rise.

The small-cap company has equity capital of Rs 148.53 crore. Face value per share is Rs 10.

JK Paper's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 14% to Rs 116.70 crore in Q1 June 2016 over Q1 June 2015.

JK Paper Vice Chairman & Managing Director Harsh Pati Singhania said that the improvement in performance in Q1 June 2016 is mainly due to higher production and sales, enriched product mix, continuous improvements in operating efficiencies and input cost reduction in comparison to Q1 June 2015.

JK Paper is India's leading branded paper company and the largest producer of photocopier paper.

Powered by Capital Market - Live News