JK Paper drops as Q1 PAT slips 55% YoY to Rs 140 cr

JK Paper slipped 8.41% to Rs 516.50 after its consolidated net profit tumbled 54.73% to Rs 139.72 crore in Q1 FY25 as against Rs 308.67 crore posted in same quarter last year.

Revenue from operations rose 8.16% year on year (YoY) to Rs 1,713.65 crore in the quarter ended 30 June 2024.

Profit before tax decreased by 51.74% to Rs 193.44 crore in Q1 FY25 over Q1 FY24. EBITDA stood at Rs 309.33 crore in the quarter ended 30 June 2024.

Harsh Pati Singhania, chairman & managing director, said, The results have been adversely impacted due to significant drop in market prices coupled with surge in wood cost as compared to the corresponding quarter. The company however increased sales volume driven by higher utilisation in Packaging Board Business. The company acquired balance 15% equity shares of its subsidiary companies, Horizon Packs (HPPL) and Securipax Packaging (SPPL). Post this, HPPL and SPPL have become wholly owned subsidiaries of the company.

JK Paper is the market leader in branded copier paper in India and amongst the top producers of coated paper and packaging boards in the country. The company is consistently following a policy of focusing on value added products like copier, bond, security, coated papers, virgin fibre packaging boards, high-end maplitho, food grade papers and boards.

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