On the back of stellar Q1 results, shares of JK Papers rallies 9.6% on August 01

Net Profit jumps 154% for this leading paper company as it records best ever quarter.

India’s leading paper company, JK Paper Ltd posted its financial results for the first quarter of FY2023 on July 29 post market hours. Today, the shares of JK Paper opened strong on the back of robust Q1 performance from the levels of Rs 346.75 to Rs 380 logging an intra-day gain of 9.6%

The company recorded consolidated net revenue at Rs 1430.23 crore in Q1FY23 which is an increase of 116% YoY, on a QoQ basis the revenue was also up by 6.75%. The EBIDTA of the company increased 122% on YoY and by 25.94% on QoQ and stood at Rs 423.13 crore.

The company reported PAT of Rs 264.23 crore as against Rs 104.22 crore a year ago, which is an increase of 154%. Sequentially, PAT grew by 55.27%.

The company reported robust EBITDA and PAT margins at 29.58% and 18.47%, respectively led by volume growth along with higher realisation with an enriched product mix. Despite, the headwinds of a substantial increase in raw material cost, the company was met with buoyant demand both for paper and board.

 JK Paper Limited, a pulp and paper company, is engaged in the manufacture and sale of branded papers, fine papers, and packaging boards in India and internationally. It sells its products through its range of brands namely JK Copier, JK Easy Copier, JK Sparke, JK Cedar, JK Max JK Excel Bond, etc. It commands a 24% leading market share in the branded copier segment.

At 11.00 am, shares of JK Paper Ltd were quoting Rs 375 with a gain of 8.15% or Rs 28.25 over its previous close. It has logged 52-week high and low of Rs 387.40 and Rs 192.