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JK Paper slips on dismal Q1 result

Capital Market 

JK Paper declined 4.44% to Rs 95.70 after consolidated net profit tumbled 97.8% to Rs 2.66 crore on 34.2% decline in net sales to Rs 469.24 crore in Q1 June 2020 over Q1 June 2019.

Consolidated profit before tax (PBT) slumped 93.2% to Rs 12.82 crore in Q1 June 2020 as against Rs 188.07 crore in Q1 June 2019. Current tax expense for the quarter skid 87.9% at Rs 7.69 crore as against Rs 63.56 crore in Q1 June 2019. The Q1 result was announced post market hours yesterday, 29 July 2020.

JK Paper is the market leader in branded copier paper segment and among the top two players in coated paper and high-end packaging boards. It has two large integrated paper manufacturing units - one in Odisha and the other in Gujarat with a combined capacity of 4,55,000 tonnes per annum (TPA).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 30 2020. 14:00 IST