JK Paper share price was down over 3 percent intraday on January 28 after the company declared its Q3 numbers.
JK Paper on January 27 reported a decline of 51 percent in its consolidated net profit at Rs 64.59 crore for the third quarter ended December. The company had posted a net profit of Rs 131.85 crore in the October-December quarter a year ago, JK Paper said in a regulatory filing.
Its total income was down 9.28 percent to Rs 770.45 crore during the period under review as against Rs 849.25 crore in the corresponding period of the last fiscal, the company said.
Total expenses of JK Paper, maker of branded copier paper, coated paper and packaging boards, was at Rs 667.45 crore as against Rs 660.89 crore.
The stock was trading at Rs 122.30, down Rs 4.00, or 3.17 percent. It has touched an intraday high of Rs 122.85 and an intraday low of Rs 117.
The company's performance on a consolidated basis was impacted by a temporary stoppage of production at The Sirpur Paper Mills, a step-down subsidiary, due to unfavourable market conditions, JK Paper said. The production has since been resumed. The on-going packaging board project at Unit CPM is progressing well. The company continues to focus on its plantation programme to procure adequate raw material at economical cost, the company said in a post earning statement.
Commenting on the results, JK Paper Vice Chairman and Managing Director said: Paper industry was one of the most affected sectors due to lockdown but now there is a steady revival of demand across all major segments which will improve further after opening of schools, colleges and educational institutions. " "This quarter's results come on the back of higher production and sales volumes despite low selling prices."
According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has reported decline in quarterly net profit with falling profit margin (YoY).
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