JK Paper consolidated net profit rises 29.7% to Rs 123.45 crore in Q1

JK Paper Ltd Tuesday reported 29.68 per cent rise in its consolidated net profit to Rs 123.45 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 95.19 crore in April-June quarter a year ago, JK Paper said in a BSE filing.

Its total income during the quarter under review fell 8.57 per cent to Rs 732.32 crore, from Rs 801.03 crore in the corresponding quarter last fiscal.

"Lower input costs, better operating parameters and higher realisations coupled with enriched product mix have helped the Company post improved results during the quarter. Higher procurement from areas closer to the mill has contributed to reduction in raw material costs," JK Paper Vice Chairman & MD H P Singhania said.

Its total expenses stood at Rs 544.25 crore as against Rs 653.76 crore, down 16.75 per cent.

Shares of JK Paper Ltd on Tuesday settled at Rs 114.05 apiece on the BSE, up 1.47 per cent from previous close.