JK Paper's consolidated net profit zoomed 119.2% to Rs 329.32 crore in Q3 FY23 from Rs 150.21 crore posted in Q3 FY22.
Net revenue from operations was at Rs 1,643.06 crore in the quarter ended 31 December 2022, registering a growth of 60.5% as against Rs 1,023.62 crore reported in the same period last year.
Consolidated profit before tax soared 114.7% to Rs 450.93 crore in Q3 FY23 from Rs 209.99 crore recorded in the corresponding quarter previous year.
EBITDA surged 116% year on year to Rs 614.49 crore in the quarter ended 31 December 2022
Harsh Pati Singhania, vice chairman & managing director, said, Higher capacity utilization and growth in sales volume across all segments helped the company to improve it's market share and deliver better performance. While there has been a sharp increase in major input costs, higher realization from the market has helped in its mitigation.
Meanwhile, the company's board has declared an interim dividend of Rs 4 per equity share for the financial year 2022-23. The record date for the same has been fixed on Friday, 17 February 2023.
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JK Paper is the market leader in branded copier paper in India and amongst the top producers of coated paper and packaging boards in the country. The company is consistently following a policy of focusing on value added products like copier, bond, security, coated papers, virgin fibre packaging boards, high-end maplitho, food grade papers and boards.
Shares of JK Paper declined 1.03% to Rs 405.10 on the BSE.
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