JK Paper gained 2.73% to Rs 218 after the company announced the commencement of operations from its new packaging board plant with effect from 14 January 2022.
Earlier on 14 May 2018, the company had announced that its board accorded its approval for setting up of packaging board plant at its unit CPM in the state of Gujarat. The new functional plant will increase company's annual capacity from 4.55 lakh tonnes per annum (TPA) to 6.25 lakh TPA and enhance its market share in packaging board segment.JK Paper is the leading player in office papers, coated papers and packaging boards.
On a consolidated basis, the company's net profit soared 241% to Rs 118.39 crore on a 47.9% rise in net sales to Rs 944.37 crore in Q2 FY22 over Q2 FY21.
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