JK Paper hikes prices to offset rising input cost

NEW DELHI: Paper and packaging major JK Paper today said it has increased prices of its products by up to 5 per cent with immediate effect due to rise in the cost of raw materials.

"It's mainly due to rise in the basic cost. Basically, the cost of raw materials and chemicals are going up," JK Paper Vice-President Santosh Wakhloo told PTI.

Three categories of products, including copier papers and packaging board, have been affected by the price hike and the increase will range from by Rs 2 to Rs 4 per kg.

"In packaging board sector, 50 per cent of our raw material is imported and that has been substantially hit and we would shortly announce hike in that category. That would happen close to this month, in next two three days," he said.

Earlier, the company had increased its prices in May this year.

The company, a flagship arm of the Singhania Group has a turnover of Rs 1,700 crore in the last financial year.