JK Paper shares had jumped 104.2% this year. (File)
Bengaluru:
JK Paper Ltd today reported a second-quarter profit that nearly tripled, helped by strong demand for its packaging boards and copier papers.
Indian offices have in recent months brought back work-from-office policies or hybrid arrangements and schools have also reopened, pushing up demand for paper products, along with a rise in packaging products sales. Consolidated net profit after tax rose 174% to 3.24 billion Indian rupees ($39.16 million) for the three months ended Sept.30, from 1.18 billion rupees, a year earlier. Total income rose nearly 73% to 16.92 billion rupees.
“The company was able to deliver an improved performance, driven by ramp up of new packaging board capacity,” Managing Director Harsh Pati Singhania said in a statement. As of last close, JK Paper shares had jumped 104.2% this year.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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