JK Paper Q4 profit rises 25% to Rs 170 crore

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JK Paper Ltd on Friday reported a 25 percent increase in consolidated net profit at Rs 170.17 crore for the fourth quarter ended March riding on higher sales volumes. The company had posted a consolidated net profit of Rs 136.07 crore in the corresponding period of the previous fiscal, JK Paper Ltd said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at Rs 1,430.87 crore as against Rs 979.82 crore in the same quarter a year ago, it added. For the fiscal ended March 31, 2022, consolidated net profit was at Rs 543.82 crore as against Rs 236.72 crore in the previous fiscal, JK Paper said.

Consolidated revenue from operations in FY22 stood at Rs 4,244.33 crore as against Rs 3,000.49 crore in FY21, it added. The company said its board has recommended an enhanced dividend of Rs 5.50 per share at 55 percent, amounting to a total of Rs. 93.17 crore for the year ended March 31, 2022.

JK Paper Vice Chairman and Managing Director Harsh Pati Singhania said, "The company turned in a strong performance in Q4 on the back of robust demand leading to higher sales volume and better realisation, in spite of a substantial increase in major input costs in the last few months." The year (FY22) as a whole has been quite satisfactory, he said, adding the company recorded its highest ever turnover and profits.

"The Sirpur Paper Mills Ltd, a step-down subsidiary, continued to contribute to improved performance and overall growth," Singhania added. JK Paper said it continues to enhance its focus on developing plantations which help in raw material security as well as creating jobs for farmers in the local community.

Also, the management has been closely monitoring the COVID-19 situation and its possible effects. Necessary precautions regarding hygiene, sanitisation, social distancing, care and protection of the employees continue to be followed, it added.