JK Paper Q2 net up 14.3% to Rs 120.39 cr, total income rises 2.78%

JK Paper Ltd on Wednesday reported a 14.27 per cent increase in consolidated net profit at Rs 120.39 crore for the second quarter ended September 2019.

The company had posted a net profit of Rs 105.35 crore in July-September quarter a year ago, JK Paper said in a BSE filing.

Its total income rose 2.78 per cent to Rs 815.81 crore during the quarter under review as against Rs 793.67 crore in the corresponding quarter last year.

"The growth in operating profit (EBITDA) was possible due to higher volume, lower input costs and better operating parameters despite declining trend in paper prices and higher imports," JK Paper Vice Chairman & Managing Director H P Singhania said.

"Increased procurement from areas closer to the mill arising from the company's plantation activities has been contributing to reduction in raw material cost on a continuous basis," he added.

JK Paper's total expenses fell 1.40 per cent to Rs 632.85 crore during July-September as against Rs 641.87 crore in the year-ago period.

Shares of JK Paper on Wednesday closed at Rs 124.90 apiece on the BSE, up 1.05 per cent from the previous close.