JK Paper's Q3 standalone net profit up 72%
Tuesday - February 12, 2019 8:18 pm , Category : BUSINESS
Mumbai, Feb 12 (IANS) Improved market conditions aided paper manufacturer JK Paper to report a rise of 72.26 per cent in its net profit for the quarter ended December 31, 2018.According to the company, the net profit during the quarter under review increased to Rs 120.26 crore from Rs 69.81 crore reported for the corresponding period of the previous fiscal."Improved market conditions helped growth in sales realisation across the board. Better operating efficiencies and lower finance cost due to de-leveraging have contributed to improved performance on a quarter to quarter basis," said Harsh Pati Singhania, Vice-Chairman and Managing Director, JK Paper in a statement on Tuesday."The company continues its focus on farm plantation in close proximity to the mills resulting in lower logistics cost."