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JK Paper on Friday reported a two-fold increase in consolidated net profit at Rs 264.23 crore for the quarter ended June, helped by higher sales volume and enhanced sales realisation.

The company had logged a net profit of Rs 104.22 crore in the April-June period a year ago, JK Paper said in a regulatory filing.

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Its revenue from operations was up two-fold at Rs 1,508.05 crore as against the low base of the pandemic-impacted corresponding quarter. It stood at Rs 720.08 crore last year.

JK Paper’s total expenses were at Rs 1,101.39 crore as compared to Rs 546.65 crore.

Vice Chairman & Managing Director H P Singhania said: “The company was able to deliver strong performance on a quarter to quarter and YoY basis on the strength of higher production and sales volume and enhanced sales realisation coupled with an enriched product mix.

This is in spite of the adverse impact of a substantial increase in major input costs in the recent period, he said.

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“Demand for paper and board continues to remain strong. The new Packaging Board Line has stabilised well and achieved high capacity utilisation,” Singhania added.

On Friday, shares of JK Paper Ltd settled 2.23 per cent up at Rs 346.55 apiece on BSE. KRH SHW SHW

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