JK Paper Q4 PAT declines YoY to Rs 279 crore

JK Paper's consolidated net profit fell 1.74% to Rs 278.60 crore in Q4 FY24 as against Rs 283.52 crore posted in same quarter last year.

Revenue from operations declined marginally to Rs 1,718.61 crore in the quarter ended 31 March 2024.

Profit before tax decreased by 16.42% to Rs 318.47 crore in Q4 FY24 over Q4 FY23. EBITDA stood at Rs 416.44 crore in the quarter ended 31 March 2024.

On a full year basis, the company reported a 6.21% fall in consolidated net profit to Rs 1,133.20 crore on 3.46% rise in revenue from operations to Rs 6,659.23 crore in FY24 over FY23.

The company stated that it has achieved highest plantation with a total of 11.64 crore saplings covering 81,173 acres in the current financial year.

Meanwhile, the board of directors approved acquisition of balance 15% equity shares of its subsidiary companies, Horizon Packs (HPPL) and Securipax Packaging (SPPL). Post this acquisition, HPPL and SPPL will become wholly owned subsidiaries of the company.

Further, the board recommended a final dividend of Rs 5 per share for the financial year 2023-24.

Shri Harsh Pati Singhania, vice chairman & managing director, said, "Significant increase in raw material cost and lower realisation across all categories have impacted performance during the quarter and year as a whole. The selling prices continued to remain under pressure due to increase in imports. However sales volumes grew by 2.3% in paper & boards during the year and the company continues to focus on operational efficiencies.

JK Paper is the market leader in branded copier paper in India and amongst the top producers of coated paper and packaging boards in the country. The company is consistently following a policy of focusing on value added products like copier, bond, security, coated papers, virgin fibre packaging boards, high-end maplitho, food grade papers and boards.

JK Paper rallied 7.99% to currently trade at Rs 377.85 on the BSE.

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