Date:25/10/2005 URL: http://www.thehindubusinessline.com/2005/10/25/stories/2005102501990300.htm

Back JK Paper net up 98% in Q1

Our Bureau

New Delhi , Oct. 24

JK Paper Ltd has reported 98.76 per cent jump in net profit to Rs 8.07 crore for the first quarter ended September 2005 against Rs 4.06 crore in the corresponding period last fiscal.

Gross sales were up 10 per cent at Rs 197.69 crore during the quarter in comparison to Rs 179.49 crore in the corresponding quarter of the previous year.

Commenting on the company's quarterly results, the Managing Director, Mr Harsh Pati Singhania, said, ``The all round improvement in performance is due to increased operating efficiencies, enriched product mix, reduction in interest cost and ready acceptance of the company's recently launched coated paper."

He said the company was looking forward to continuing with the improved performance during the year.

During the quarter, JK Paper enhanced its installed capacity to 1.8-lakh TPA.

It is currently in the process of setting up an oxygen delignification unit at its Gujarat plant to partly substitute use of chlorine with oxygen.

During the quarter, the company further refinanced Rs 38-crore of high-cost loans with lower cost loans.