JK Paper's FY06 net dips 7%

New Delhi, July 31 (UNI) Due to high taxes of Rs 18.69 crore, JK Paper, one of the leading producers of high end papers, today announced a 7.09 per cent fall in its net profit at Rs 35.80 crore for the year ended June 30, 2006, as compared to Rs 38.53 crore in the year ended June 30, 2005.

However, during FY06, the company's operating profits rose to Rs 135.47 crore, an increase of 16 per cent, and profit before tax jumped to Rs 54.49 crore, an increase of 41 per cent as compared to the previous fiscal.

The net sales were to the tune of Rs 732.96 crore in the year 2005-06 in contrast with Rs 633.52 crore last year.

Following the decrease in net profits, the basic earning per share (EPS) of the company has also reduced to Rs 5.39 from Rs 6.53 the year earlier.

The company's net profit for the fourth quarter ended June 30, 2006, also fell to Rs 9.61 crore from Rs 15.79 crore during the previous year.

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