JK Paper Q3 PAT up 37%

New Delhi, Apr 22 (UNI) JK Paper Ltd today posted increase of 37 per cent in its net profit at Rs 11.86 crore for the third quarter ended March 31, 2007 as compared to Rs 8.65 crore in the corresponding period last year.

Company's gross sales for nine months ended March 31, 2007 was Rs 700.33 crore and net profit in the period stood at Rs 33.72 crore.

''The improved performance was due to significant growth in the branded copier and coated paper segments. The sales of coated paper has increased by 79 per cent over corresponding period last year, enabling us to use the coated plant capacities fully and thus derive better economies of scale,'' company's Managing Director Harsh Pati Singhania said.

Growth in the domestic branded Copier Paper has also been very strong at 27 per cent, he added.

The company's project at its CPM Unit to manufacture 60,000 tonnes per annum of multi layered Packaging Board is progressing well and is about to commence trial production.

UNI