Shares of JK Paper surged more than 7% on Friday despite the company reporting a slight decline in net profit for the fourth quarter.
JK Paper’s net profit for Q4 fell by 1.7% year-on-year to ₹275.6 crore, down from ₹280 crore in the same quarter last year. The company’s revenue from operations remained steady at ₹1,719 crore.
The company’s EBITDA dropped by 26%, coming in at ₹358 crore for the quarter compared to ₹483 crore in the previous year. The EBITDA margin decreased to 20.8% from 28.1% in the same period last year.
Despite these numbers, the company’s board of directors has recommended a final dividend of ₹5 per share for the financial year ending March 31, 2024. This is in addition to an interim dividend of ₹3.5 per share paid earlier in the year.
As of the latest update, JK Paper shares were trading over 7% higher, reflecting investor confidence in the company’s long-term prospects.
