JK Paper Q2 net profit at Rs 19.81 cr

JK Paper Ltd today reported a standalone net profit of Rs 19.81 crore for the second quarter ended September 30, on increased volume, effective utilisation of raw materials and uptick in sales of copier papers.

It had posted a net loss of Rs 19.68 crore during the July-September period of previous fiscal, JK Paper said in a statement.

Total standalone income from operations during the quarter under review was up 11.93% to Rs 597.40 crore. It was Rs 533.70 crore in the year-ago period.

"Our top line has grown 16% in the first half and 12% during the quarter under review and the incremental volume got through has added into our profit.

"It has also given us a good market position as now in the copier market our share has grown up to 27% in this quarter from 22% in the same quarter last fiscal," JK Paper President A S Mehta told PTI.

He added that during the July-September quarter, efficiency parameters of the company has also gone up because of effective utilisation of raw material and fuel.

"On power and fuel cost, we have a tremendous advantage because of the technology. We have also improved our raw material usage," Mehta added.

Shares of JK Paper today settled at Rs 43.40 on BSE, down 0.57% from the previous close.