Paper Products Net Rises 14% At Rs 13.4 Crore In India
The Paper Products Ltd, India's leading flexible packaging company, reported 14 percent rise in net profit in the first half of the current calendar year because of higher realisation in specialised products.
The company reported a net profit at Rs 13.41 crore (approx. $ 3.2 million) for the first half ending June 30, 2008 as against Rs 11.74 (approx. $2.7 million) in the corresponding period last year.
During the period under consideration, net sales at Rs 330.64 crore ($ 78 million), recorded a growth of 21.8% over Rs 271.55 crore ($64 million) in the comparable period last year. The profit before tax shot up by 17.4 percent at Rs 17.50 crore (approx. $ 4 million) as compared to Rs 14.90 crore (approx. $ 3.5 million).
A sudden rise in the input cost affected the company’s net profit in the second quarter of the current calendar year resulting into a marginal fall to Rs 3.98 crore (approx. $ 0.93 million) from Rs 4.00 crore (approx. $ 0.94 million) in the same period last year.
The company achieved sales of Rs 172.40 crore (approx. $ 40 million) in the 2Q, representing a growth of 22 percent Rs 141.29 crore (approx. $ 33 million) in the corresponding quarter last year.
