Shares of JK Paper Ltd. tumbled over 11% on Thursday after its profit declined in the first quarter of fiscal 2025 due to a surge in wood cost.
The company's net profit declined 54.9% year-on-year to Rs 141 crore in the quarter ended June 2024, according to an exchange filing.
JK Paper Q1 Results: Key Highlights (Consolidated, YoY)
Revenue rose 8.2% to Rs 1,714 crore.
Ebitda fell 41% to Rs 281 crore.
Ebitda margin at 16.4% versus 30.1%.
Net profit fell 54.9% to Rs 141 crore.
“The results have been adversely impacted due to significant drop in market prices coupled with surge in wood cost as compared to the corresponding quarter," said Chairman and Managing Director Harsh Pati Singhania in the press release.
Shares of the company fell as much as 11.57% during the day to Rs 498.95 apiece on the NSE. It was trading 6.81% lower at Rs 525.75 apiece, compared to a 0.41% decline in the benchmark NSE Nifty 50 as of 11:08 a.m.
The stock has risen 58.62% in the last 12 months and 26.94% on a year-to-date basis. The total traded volume so far in the day stood at 1.1 times its 30-day average. The relative strength index was at 45.81.
All the four analysts tracking JK Paper Ltd. have a 'buy' rating on the stock according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 4.9%.
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