JK Paper Q4 net profit surges 30% to Rs 73 cr

JK Paper today reported 30.68 per cent rise in its standalone net profit to Rs 73.60 crore for the fourth quarter ended March 31, mainly driven by volume growth and better operating margins.

The company had posted a net profit of Rs 56.32 crore in January-March quarter a year ago, JK Paper said in a BSE filing.

Total income during the quarter under review stood at Rs 759.12 crore compared to Rs 743.44 crore in the corresponding period previous fiscal.

JK Paper said that its revenues for the quarter and year ended March 31 "are not comparable as the same are reported net of GST, as applicable from July 1, 2017".

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

Its total expenses stood at Rs 647.88 crore as against Rs 664.52 crore in the fourth quarter of 2016-17.

For the financial year 2017-18, JK Paper's consolidated net profit was up 51.62 per cent to Rs 260.53 crore as against Rs 171.82 crore in 2016-17.

Its total income was Rs 2,900 crore in 2017-18 compared to Rs 2,798.83 crore in the previous fiscal.

The company's board had recommended dividend of Rs 2.5 per share on equity Share of Rs 10 each.

Shares of JK Paper today settled at Rs 148.45 apiece on BSE, down 0.07 per cent from previous close.