JK Papers' Q4 standalone net profit up 31%

Paper makers JK Papers on Monday reported a rise of 30.68 per cent in its standalone net profit for the quarter ended March.

The company's standalone net profit stood at Rs 73.60 crore in January-March 2018, against Rs 56.32 crore reported in the corresponding period of the previous year, the company said in a statement.

The total standalone income of the company during the quarter under review stood at Rs 759.12 crore, 2.11 per cent higher than Rs 743.44 crore earned during the same period previous year.

Commenting on the results, Harsh Pati Singhania, the Vice Chairman and Managing Director of JK Papers, said: "Enriched product mix, lower finance costs and better operating parameters coupled with higher volumes have contributed to the all-round improved performance."

On a yearly basis, the company recorded a 59.76 per cent surge in its standalone net profit for the fiscal 2017-18, at Rs 260.14 crore.

"The board recommended an enhanced dividend of Rs 2.5 per share, amounting to Rs 53.72 crore on equity share capital for the year ended March 31, 2018," the company said.

--IANS

rrb/nir