Financial Daily from THE HINDU group of publications
Tuesday, Jul 19, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jul 19, 2005 |
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Corporate Results
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Paper, Board & Newsprint JK Paper Q4 net up 57 pc Our Bureau
New Delhi , July 18 JK Paper Ltd today announced a 57 per cent jump in net profit at Rs 16.22 crore for the fourth quarter ended June 30. For the year ended June 2005, the company recorded a 108 per cent rise in earnings per share (EPS) at 6.61 on a fully diluted basis, over the previous year's EPS of 3.18, a company release said. Gross sales for the year were higher at Rs 729.21 crore while net profit stood at Rs 38.96 crore. "During the quarter under review, the company has been able to improve its margins in comparison to margins achieved in the previous three quarters," Mr Harsh Pati Singhania, MD, said in the release. "The company achieved its highest ever production of 180,089 tonnes of paper and market pulp during the year with an overall capacity utilisation of 120 per cent. With the recent commissioning of the coated paper project of 46,000 tpa, JK Paper has entered a new fast-growing value-added product segment." The company stock opened on the BSE at Rs 58.90 to close lower at Rs 58.65.
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