JK Paper Q1 results: Net profit declines 55% to Rs 140.79 cr as prices fall

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JK Paper Ltd on Wednesday reported a 55 per cent decline in consolidated net profit to Rs 140.79 crore in the June 2024 quarter, hit by a fall in market prices coupled with a surge in wood cost.

"The results have been adversely impacted due to a significant drop in market prices coupled with a surge in wood cost compared to the corresponding quarter," JK Paper Chairman & Managing Director Harsh Pati Singhania said.

The company posted a consolidated net profit of Rs 312.56 crore in the corresponding period of the last fiscal, JK Paper said in a regulatory filing.

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Category: BusinessFinance

Markets: India

Topics: JK paper results JK Paper Q1 net profit Paper industry Corporate earnings Q1 results

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-24 @ 21:58:54 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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News ID: 21763374

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