JK Paper’s Q4 net profit rises 64.7% to Rs 280-crore
JK Paper posted a consolidated net profit after tax of Rs 280-crore for the March quarter on 16 May, helped by higher prices for its papers and packaging boards and as some input costs eased. This is 64.7% rise from Rs 170-crore a year ago, the company statement said.
17 May 2023 | 4196 Views | By PrintWeek Team
The company’s consolidated total income rose by 29.22% to Rs 1,760-crore for the March quarter as compared to Rs 1,362-crore in the year-ago period.
In a regulatory filing, JK Paper said, “The board of directors recommended a final dividend of Rs 4 per equity share of Rs 10 each for the financial year ended 31 March 2023.”
JK Paper and other paper companies have benefited from rising demand from offices as work-from-office slowly reverts to the norm as well from eCommerce and other companies to substitute plastic, especially after India banned single-use plastics in mid-2022, for packaging and products such as drinking cups.
Earlier this month, Andhra Paper said its fourth-quarter profit more than doubled, while Tamil Nadu Newsprint and Papers, West Coast Paper Mills and TCPL Packaging are yet to report.