JK Paper inks a good Q3

JK Paper hit an intra day high at Rs.98.85, which is less than Rs.3 away from its 52-week high of Rs.101.80. Volumes on the counter have jumped up over two times.

The company, maker of branded paper and the largest producer of photocopier paper, posted superlative numbers for Q3FY17, mainly on the back of a lower base effect and higher other income.

Though net sales grew by just 6% (YoY) at Rs.666 crore, net profit showed a whopping rise of 177% at Rs.36 crore. Other income showed a good 45% jump at Rs.94 crore. EBITDA was up 30% at Rs.124 crore and margins jumped up from 15% to 18.5%.