Following the company’s release of its June quarter results after market hours on Wednesday, JK Paper Ltd.’s shares are trading at a loss of more than 9% on Thursday.
During the June quarter, the company’s revenue climbed by 8.2% year over year to ₹1,714 crore, while its net profit decreased by 55% from the previous year to ₹141 crore.
The company’s management attributed its poor results to a sharp decline in market prices combined with an increase in the price of wood.
Before Interest, Tax, Depreciation and Amortization (EBITDA) margin decreased to 16.3% from 30.1% in the previous year, while earnings declined 41% year over year to ₹280 crore. In any case, the company’s sales volume grew this quarter due to improved usage in the packaging boards business.
JK Paper shares were down 8.19% at Rs 518.00 on the NSE as of 10:45 AM.
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