JK Paper posts Q1 net profit of Rs 16.78 cr

JK Paper Ltd today reported standalone net profit of Rs 16.78 crore for the first quarter ended June 30, 2015-16.
It had posted a net loss of Rs 22.53 crore for the April- June period of the previous fiscal, 2014-15, JK Paper said in a statement.
The company's standalone net sales stood at Rs 682.73 crore in the first quarter of the current fiscal as against Rs 573.88 crore in the year-ago period.
JK Paper Vice Chairman & Managing Director Harsh Pati Singhania said: "The significant improvement in performance is due to higher sales volumes and major improvements in operating efficiencies emanating from the Company's new plant at Jaykaypur, Odisha.

"The company has widened its product basket and enhanced its distribution network."
JK Papers' stock closed at Rs 42.50, down 0.47 per cent, on the BSE.