New Delhi, May 16 Paper maker JK Paper today reported an over three-fold increase in net profit at Rs 56.32 crore for the fourth quarter ended March 31, 2017 on back of highest sales.
The company had posted a net profit of Rs 14.89 crore in the corresponding quarter of last year, JK Paper said in a statement.
Total income during the quarter under review stood at Rs 743.44 crore as against Rs 686.96 crore during the January- March quarter of last fiscal, up 8.22 per cent.
Commenting on the results, JK Paper Vice Chairman and Managing Director Harsh Pati Singhania said: "Increased volumes, better sales realisation and improved operating parameters have resulted in better performance throughout the year.
The present outlook of Indian Paper Industry remains positive, he added.
For the entire fiscal, JK Paper reported a net profit of Rs 171.82 crore as compared to Rs 55.93 crore in the 2015-16 fiscal.
The company's board has recommended a dividend of Rs 1.50 per share for the year ended March 31, 2017.
Shares of the company ended 2.47 per cent down at Rs 116.45 on BSE.