JK Paper reports Rs 22.53 cr loss for Apr-Jun

JK Paper today reported a standalone net loss of Rs 22.53 crore for the first quarter ended on June 30, 2014, due to higher expenses.

The company had posted a standalone net profit of Rs 1.38 crore in the same period last fiscal, JK Paper said in a filing to the BSE.

However, total income of the company during the April-June quarter increased 36.46 per cent to Rs 573.88 crore as against Rs 420.53 crore of the same period last fiscal.

Expenses of the company too increased 36.50 per cent to Rs 476.34 crore in the quarter under review, from Rs 348.96 crore during the same period.

Shares of JK Paper closed at Rs 32.15 on the BSE, up 1.42 per cent from previous close.