JK Paper has released the results for the third quarter (Q3) of the financial year 2024. In this, a big decline has been seen in the profit of the company. According to the exchange filing, the company's profit has come down from ₹ 236.4 crores last year to ₹ 65.3 crores.

The company's earnings also declined, falling from ₹1,781.7 crores to ₹1,733 crores. EBITDA fell to ₹268.6 crores from ₹447.6 crores last year. EBITDA margin also declined from 25.1% to 15.5%. The main reason for these weak results of JK Paper is believed to be the rising cost of raw materials and sluggish market. Total expenses for the quarter stood at ₹1,569.53 crores, slightly higher than ₹1,544.77 crores in the previous quarter. Financial cost stood at ₹80.23 crores, while depreciation expenses stood at ₹113.55 crores. JK Paper has continued its expansion strategy. It announced the acquisition of a 60% stake in Radheshyam Wellpack Pvt Ltd, which is expected to be completed within eight weeks, while the remaining 40% stake will be acquired in the next two years. In addition, the company approved the majority acquisition of Quadragen Vethealth Pvt Ltd, a manufacturer of animal nutrition products. The board of JK Paper has also approved an overall plan of arrangement involving its subsidiaries, subject to regulatory approvals. Shares of JK Paper closed 1.2% higher at ₹382.95 per share on Wednesday.