Shares of JK Paper darted up over 7 percent in morning trade on July 25 after the company posted an 18 percent jump in its net profit for the April-June quarter of this financial year.
At 10am, the shares of JK Paper were trading 7.13 percent up at Rs 335.60 on the BSE.
The paper and packaging products company on July 24 reported a net profit of Rs 313 crore for the June quarter, up 18 percent from Rs 264 crore reported a year back. Sequentially, the net profit was up 10 percent from Rs 284 crore.
Revenue from operations grew 16 percent year-on-year (YoY) to Rs 1,664 crore from Rs 1,430 crore in Q1FY23, while it was down 3.2 percent from Rs 1,719 crore in the March quarter of FY23.
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The earnings before interest, tax, depreciation and amortisation (EBITDA) came in at Rs 532.03 crore, higher than Rs 458 crore reported in the year-ago period.
"On a consolidated basis, the results have improved due to the acquisition of corrugation business last year and better performance by Sirpur Paper Mills with increased both volumes and sales realisation," the firm’s Vice Chairman and Managing Director Harsh Pati Singhania said.
The packaging board business witnessed a drop in volume and sales realisation and was impacted by higher pulp carrying cost, he added.
Shares of JK Paper are down 20 percent this year till date, while the one-year return stands at just 0.55 percent.
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