JK Paper shares up over 6% as Q1 net profit rises 18%

New Delhi: Shares of JK Paper zoomed more than 6 per cent in late morning trade on the exchanges on Tuesday after the firm reported an 18.3 per cent increase in its net profit at Rs 312.56 crore in the June quarter.

JK Paper scrip advanced 6.40 per cent to Rs 333.30 apiece on the BSE. A similar movement was also seen on the NSE, where the shares jumped 6.29 per cent to Rs 333 per piece.

The 30-share BSE Sensex was trading 23.78 points or 0.04 per cent lower at 66,361 points.

In a regulatory filing on Monday, JK Paper reported an 18.3 per cent increase in its net profit to Rs 312.56 crore in the June quarter.

The company had posted a net profit of Rs 264.23 crore during the same quarter a year ago, the company said.

Its revenue from operations was up 10.77 per cent to Rs 1,584.36 crore during the period as against Rs 1,430.23 crore in the year-ago period, it added.