The Board of JK Paper Limited, which met on 26th June, 2008 to consider the audited accounts for the 9 months ending 31st March, 2008, recommended a dividend of 15% (annualised 20%) on its equity capital. Gross Sales for the 9 months ending 31st March, 2008 was Rs.749 crore, an increase of 7.1% on an annualised basis. Profit before interest, depreciation and tax (PBIDT) stood at Rs.116.07 crore and the Net Profit was Rs. 34.71 crore. The Company has changed its accounting year from July-June to April-March to synchronize its accounting year with the tax year.

Mr. Harsh Pati Singhania, Managing Director of JK Paper Limited said “Demand for the Company’s products remained strong resulting in highest ever production and sales. Sales of the Company’s branded products, including Copier Paper, increased by 21% in volume terms on an annualised basis. JK Paper’s international quality Multi-layered Packaging Board which was introduced in the market during the year, gained ready acceptance and the Plant is expected to reach full capacity utilisation during the current year. Profit during the year, would have been higher but for steep increase in coal and energy prices, high imported pulp price and reduction in Coated Paper price. Recently Coated Paper prices have recovered.”

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