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JK Paper Q3 results: Net profit falls 73% to Rs 65.39 cr on soaring costs

The paper and packaging board maker's consolidated net profit tumbled 73 per cent year-on-year to Rs 65.39 crore ($7.6 million) for the quarter ended Dec 31

Q3 result

JK Paper's net revenue from operations fell 4.4 per cent to Rs 1,632 crore during the quarter while total expenses rose 5 per cent. | Photo: Shutterstock

Reuters

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India's JK Paper reported a fall in profit for a sixth straight quarter on Wednesday, hurt by higher raw material costs and weak pricing power.

The paper and packaging board maker's consolidated net profit tumbled 73 per cent year-on-year to Rs 65.39 crore ($7.6 million) for the quarter ended Dec 31.

Indian paper makers have grappled with cheaper imports and elevated prices of wood - a key raw material - over the past few quarters.

Additionally, these companies have been forced to sell their products at lower prices as demand remains subdued following a post-pandemic surge.

JK Paper's net revenue from operations fell 4.4 per cent to Rs 1,632 crore during the quarter while total expenses rose 5 per cent, led by an 18 per cent jump in raw material costs.

 

Peer West Coast Paper Mills' quarterly profit more than halved, hurt by higher costs and cheaper imports.

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jan 29 2025 | 11:42 PM IST

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