JK Paper Q1 Results: Net profit rises 18% to Rs 313 cr

JK Paper reported a 12.71% increase in net profit for the quarter ended June 30, 2023, to Rs 230.87 crore, up from Rs 204.84 crore in the previous year. However, the company’s total income fell by 1.96% to Rs 1,424.39 crore in Q1FY24, compared to Rs 1,452.83 crore in the previous year’s same quarter. 

On a consolidated basis, the company recorded an 18.29% increase in net profit for the quarter that ended June 30, 2023, at Rs 312.56 crore, compared to Rs 264.23 crore for the same period the previous year. The company’s total income climbed by 11.88% to Rs 1,639.20 crore in Q1FY24, from Rs 1,465.19 crore in the previous year’s corresponding quarter. 

JK Paper is one of the most respected paper companies in India today. The company’s diversified product portfolio comprises office paper, writing and printing paper packaging boards, and speciality paper, among others. It enjoys a rich experience of many decades, which has enabled it to emerge as one of the biggest wood-based paper companies in India as well as a leader in the branded office paper segment. 

JK Paper is currently trading at Rs 327.85, up by 14.60 points or 4.66% from its previous closing of Rs 313.25 on the BSE. The scrip opened at Rs 326.20 and touched a high and low of Rs 336.35 and Rs 322.55 respectively. So far 27,166 shares were traded on the counter. 

The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high of Rs 452.50 and a 52-week low of Rs 306.60. Last one week high and low of the scrip stood at Rs 336.35 and Rs 312.55, respectively. The current market cap of the company is Rs 5,306.53 crore. The promoters holding in the company stood at 49.63%, while Institutions and Non-Institutions held 13.57% and 36.79%, respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.