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JK Paper expects Sirpur facility to add capacity by 1.4 lakh tonne post April 1, 2019

Updated : February 13, 2019 01:14 PM IST

JK Paper on Wednesday said it expects Sirpur Paper Mills facility in Telangana to add capacity by 1.4 lakh tonne from April 1, 2019.

In an interview to CNBC-TV18, AS Mehta, president and director, said the paper prices in India are in tandem with global pulp and paper prices, "Good demand for paper along with higher prices helped the company clock higher net sales realisations by 10 percent in Q3 compared to the same quarter last fiscal."

"In the current quarter, the copier paper prices are stable. However, coated paper prices are down globally and domestically as well by around 3-4 percent. But, the coated paper contributes only 10 percent to the total volumes and so does not have a huge impact on the sales of the company," Mehta said.

"Capacity utilisation in Q3 was around 108 percent and JK Paper is on track with regards to production parameters, productivity and production efficiencies, he added.

JK Paper reported a 72.26 percent jump in standalone net profit to Rs 120.26 crore for the third quarter ended December 2018 on account of improved realisation, better-operating parameters and reduced finance cost. The company had posted a net profit of Rs 69.81 crore in the October-December quarter last year.

Total income during the quarter under review rose 10.94 percent to Rs 883.11 crore. It stood at Rs 796.01 crore in the December quarter of 2017-18, JK Paper said in a BSE filing yesterday.
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