JK Paper, one of the leading producers of office papers, today reported about two-fold jump in its net profit at Rs 20.16 crore in the first quarter ending June 30, 2009, as compared to the corresponding quarter in the previous fiscal. The company owns brands such as JK Copier Plus, JK Cote, JK Excel Bond and TuffCote among others.
The company had a net profit of Rs 10.29 crore in the first quarter ending June 30, 2008.
"Better sales realisation, lower raw material and input cost, high operating efficiencies and reduced forex charges helped the company post significantly better results," JK Paper Managing Director Harsh Pati Singhania said.
However, net sales of the company were marginally down by 0.94 per cent at Rs 260.64 crore in the quarter under review from Rs 263.13 crore in the same period last fiscal.
The company said its production for the quarter was 66,921 tonnes, higher by 6 per cent. Overall capacity utilisation stood at 112 per cent, it added.
"Our strategy of operating in all major high growth and value added segments is yielding dividend," he added.