JK Paper Q4 net jumps 52 pc to Rs 112.23 cr

JK Paper Ltd Wednesday reported 52.48 per cent jump in standalone net profit at Rs 112.23 crore for the fourth quarter ended March 31.

The company had posted a standalone net profit of Rs 73.6 crore in the same quarter of previous fiscal, JK Paper said in a regulatory filing.

Standalone revenue from operation for the quarter under review stood at Rs 854.37 crore as compared with Rs 799.27 crore in the year-ago period.

Consolidated net profit for the fiscal ended March 31, 2019 stood at Rs 424.94 crore as against Rs 260.58 crore in 2017-18, up 63 per cent.

Consolidated revenue from operations for the year stood at Rs 3,256.71 crore as against Rs 2,877.49 crore in the previous year, it said.

"Improved market conditions leading to higher sales realisation and lower input cost have helped increase profit margins," JK Paper Vice-Chairman and Managing Director Harsh Pati Singhania said.

He further said better operating efficiencies and lower finance cost due to deleveraging have also had a favourable impact. Continued focus on farm plantation in close proximity to the mills also resulted in lower logistics cost.

The company said its board has recommended a dividend of Rs 3.5 per share, amounting to a total of Rs 75.21 crore for the year ended March 31, 2019.

The board also approved issue of non convertible debentures of up to Rs 300 crore, it added.