JK Paper Q3 PAT soars 119% YoY to Rs 329 cr

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.

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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