The paper company that can quickly expand capacity and is backward integrated with sufficiency in major inputs will be better placed to take advantage of rise in product prices
The company, whose board on Thursday approved a proposal to raise up to Rs 260 crore from the market, had posted a net profit of Rs 120.29 crore in the July-September period a year ago, JK Paper said in a regulatory filing.
Total expenses of JK Paper, maker of branded copier paper, coated paper and packaging boards, declined 3.32 per cent to Rs 629.62 crore as against Rs 651.30 crore in the year-ago quarter.
Total income during the period under review stood at Rs 849.25 crore as compared to Rs 883.56 crore in the year-ago period.
The company had posted a net profit of Rs 95.19 crore in April-June quarter a year ago, JK Paper said in a BSE filing.
Standalone revenue from operation for the quarter under review stood at Rs 854.37 crore as compared with Rs 799.27 crore in the year-ago period.
The company is currently undergoing insolvency proceedings at the Hyderabad bench of the National Company Law Tribunal (NCLT).
JK Paper Ltd on July 5 said it has made a non-binding offer to acquire two units of Avantha Group firm BILT Graphic Paper Products Ltd (BGPPL)
It had posted a net loss of Rs 22.53 crore for the April- June period of previous fiscal, 2014-15, JK Paper said in a statement.