JK Paper in the red

JK Paper is currently the top loser on the BSE; opening 13% lower at Rs.489.95, this was the intraday low; it has recovered from there and is now trading at Rs.522 levels. Its 52-week high stands at Rs.639.15 and low is at Rs.319.20.

Consolidated revenue from operations were up 8.5% at Rs.1804 crore but EBITDA was down 42% at Rs.309 crore while net profit was down by a sharp 55% at Rs.141 crore.

The results were adversely impacted due to significant drop in market prices coupled with surge in wood cost as compared to the corresponding quarter. The company however increased sales volume driven by higher utilisation in Packaging Board Business.

In order to mitigate long term raw material availability and cost increase, the company has further stepped up its social farm forestry initiatives.