JK Paper Monday reported nearly two-fold jump in its standalone net profit to Rs 109.57 crore for the second quarter ended September 30, mainly driven by volume growth and sales realisation.
The company had posted a net profit of Rs 56.63 crore in July-September quarter a year ago, JK Paper said in a BSE filing.
Its total income rose 17.47 per cent to Rs 795.46 crore in the quarter under review, as against Rs 677.11 crore in the same period previous fiscal.
"Market continues to remain strong with growth in volume and sales realisation. Better operating efficiencies and lower finance cost due to deleveraging has also contributed to improved performance on quarter to quarter basis," JK Paper Vice-Chairman & MD H P Singhania said.
JK Paper's total expenses stood at Rs 639.48 crore as against Rs 595.63 crore, up 7.36 per cent.
During the quarter, JK Paper took possession of the Sirpur Paper Mills and refurbishment and overhaul of plant and machinery is underway, the company said.
Shares of JK Paper Ltd Monday closed at Rs 180.70 apiece on BSE, down 2.54 per cent from previous close.