New Delhi, Jan 21 : Branded paper company JK Paper on Saturday reported a surge of 173 per cent in its net profit for the third quarter (Q3) of 2016-17.
The company’s net profit stood at Rs 35.89 crore for the quarter ended December 31, 2016, up from Rs 13.14 crore in the corresponding quarter of last fiscal.
According to the branded paper manufacturer, its total income from operations (net) rose by 5.64 per cent to Rs 670.89 crore during the quarter under review.
The firm’s Q3 EBITDA (earnings before interest, taxes, depreciation and amortisation) increased by 33 per cent to Rs 130.77 crore from Rs 98.65 crore in the previous corresponding quarter.
“The continuous improvement in performance is mainly due to enriched product mix, lower input cost and better operating efficiency,” said Harsh Pati Singhania, Vice Chairman and Managing Director, JK Paper in a statement.
“The result is in line with the current positive outlook of the Indian paper industry.”