India's JK Paper Q2 profit jumps aided by strong demand

JK Paper

02/11/2022 12:24

BENGALURU, Nov 2 (Reuters) - India's JK Paper Ltd  JKPA.NS  on Wednesday
reported a second-quarter profit that nearly tripled, helped by strong demand
for its packaging boards and copier papers. 
    Indian offices have in recent months brought back work-from-office policies
or hybrid arrangements and schools have also reopened, pushing up demand for
paper products, along with a rise in packaging products sales.
    Consolidated net profit after tax rose 174% to 3.24 billion Indian rupees 
($39.16 million) for the three months ended Sept.30, from 1.18 billion rupees, a
year earlier.
    Total income rose nearly 73% to 16.92 billion rupees.
    "The company was able to deliver an improved performance, driven by ramp up
of new packaging board capacity," Managing Director Harsh Pati Singhania said in
a statement.
    As of last close, JK Paper shares had jumped 104.2% this year.
($1 = 82.7300 Indian rupees)
 (Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Shailesh Kuber)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))