JK Paper Q3 net up 37.63% at Rs 15.69 crore
NEW DELHI: JK Paper today reported a 37.63 per cent increase in net profit at Rs 15.69 crore for the third quarter ended December 31, 2015 The company had posted a net profit of Rs 11.4 crore in the same period last fiscal, it said in a BSE filing. Net sales during the period under review stood at Rs 596.63 crore as against Rs 544.73 crore in the year-ago period, up 9.52 per cent. Commenting on the results, JK Paper Vice Chairman & Managing Director Harsh Pati Singhania said, "The improvement in performance has been achieved through higher sales volume, better product mix and improved efficiencies." He added that the performance has been achieved despite lower production arising from 10 days planned annual shutdown in December 2015 at the company's Odisha unit. During the quarter, cost of materials consumed stood at Rs 308.3 crore as against Rs 344.45 crore in the corresponding period last fiscal, while power and fuel expenses were also lower at Rs 51.06 crore as aga...