JK Paper Q4 Profit Down 2.44% to Rs 276.6 Cr

New Delhi, May 16 (PTI) JK Paper Ltd on Thursday reported a 2.44 per cent decline in consolidated net profit to Rs 276.6 crore for the fourth quarter ended March 2024, impacted by higher raw material cost and lower realisation across categories.

The company had posted a consolidated net profit of Rs 283.52 crore a year ago, JK Paper said in a regulatory filing.

Its consolidated revenue from operations in the quarter under review stood at Rs 1,804.87 crore against Rs 1,806.99 crore in the year-ago period, it added.

The total expenses in the fourth quarter were higher at Rs 1,457.63 crore compared to Rs 1,379.42 crore in the same period of the preceding fiscal.

The board of directors has recommended a final dividend of Rs 5 per share for the year ended March 2024. This is in addition to the interim dividend of Rs 3.5 per equity share declared and paid during the said financial year, the filing said.

For the fiscal ended March 2024, its consolidated net profit was Rs 1,133.2 crore compared to Rs 1,208.22 crore in the previous year.

In FY24, the consolidated revenue from operations stood at Rs 7,000.26 crore compared to Rs 6,772.17 crore in FY23.

"Significant increase in raw material cost and lower realisation across all categories have impacted performance during the quarter and year as a whole. The selling prices continued to remain under pressure due to the increase in imports," JK Paper Chairman and Managing Director Harsh Pati Singhania said.

However, he said, sales volumes grew by 2.3 per cent in 'paper & boards' during the year and the company continues to focus on operational efficiencies.