Page turns for paper companies as sales improve, demand picks up

Improved market conditions have improved sales and profitability of paper mills in the December quarter with expectations of a sharp increase in demand ahead of the new academic year that will begin in Q1, FY 20.

Market leader JK Paper posted a 72 per cent jump in December quarter profit to Rs 120.26 crore this year, compared to Rs 69.81 crore in the corresponding quarter last year. International Paper and West Coast Paper reported 179.16 per cent and 57.28 per cent growth in their December quarter profit. Also, Tamil Nadu Newsprint (TNPL) reported 17.4 per cent and 83.36 per cent