Shares of paper manufacturers were trading higher by up to 13% in otherwise subdued market on Wednesday after JK Paper
reported a strong set of numbers for the quarter ended June 2018 (Q1FY19).
has rallied 13% to Rs 143 on the BSE
after the company reported 58% jumped in net profit at Rs 951 million in Q1FY19 on back of strong operational performance. It had profit of Rs 601 million in year ago quarter. Gross revenue from operations during the quarter under review increased 18.5% at Rs 8,526 million against Rs 7,201 million in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, tax, depreciation and amortization) margin improved 203 bps at 24.18% from 22.15% in year ago quarter.
Besides JK Paper, Star Paper Mills, West Coast Paper, NR Agarwal Industries, Ruchira Papers,Tamil Nadu Newsprint & Papers and Seshasayee Paper & Boards were up in the range of 3% to 8% on the BSE.
On comparison, the S&P BSE
Sensex was trading 0.13% lower at 37,557 points at 11:55 am.