JK Paper Q3 net loss at Rs 2.08 cr

NEW DELHI: JK Paper today posted net loss of Rs 2.08 crore for the third quarter ended December 31, due to increase in raw material prices.

The company had posted net profit of Rs 7.42 crore during the same period last fiscal, JK Paper Ltd said in a filing to the BSE.

Net sales of the company, however, rose to Rs 368.07 crore during the quarter, as against Rs 326.79 crore during the same period of 2011-12 fiscal.

"Severe increase in raw material prices have impacted results for the quarter, despite increase in net sales," JK Paper said.

The company's expenses, including the cost of raw materials rose by 15.14 per cent at Rs 365.08 crore during the quarter, as against Rs 317.07 crore during the same period of previous fiscal.

JK Paper manufactures a diverse range of writing and printing papers, watermarked bond paper, high value added copier paper and specialty grade paper.

Shares of JK Paper today closed at Rs 38.30 on the BSE.