Monday, 23 January 2017

JK Paper Gains On Strong Q3 Numbers

JK Paper is identified as a multibagger stock for this quarter. The stock is seen to have traded in very high volumes. Multibagger stocks have a great potential to grow in the long run. JK Paper, the branded paper company registered a surge of 173 per cent in its net profit for the third quarter (Q3) of the financial year 2016-17. The company's net profit is noted at Rs 35.89 crore for the quarter ended December 31, 2016, up from Rs 13.14 crore in the same quarter of last financial year.

As per the company, its total income from operations (net) increased by 5.64 per cent to Rs 670.89 crore during the quarter under review. The firm's Q3 EBITDA (earnings before interest, taxes, depreciation and amortization) swelled by 33 per cent to Rs 130.77 crore from Rs 98.65 crore in the previous corresponding quarter. Harsh Pati Singhania, Vice Chairman and Managing Director, JK Paper is of the view that the continuous improvement in performance is chiefly because of the enriched product mix, lower input cost and better operating efficiency. The result is in line with the current positive outlook of the Indian paper industry.

As the trading session commenced on 23rd Jan, JK Paper share price opened above 2 per cent at Rs. 96.45 against its previous closing at Rs. 94.85. Within the next fifteen minutes around 2,07,623 shares are traded on the counter with a traded value of Rs. 202.06 lacs, as per NSE.

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