Financial Daily from THE HINDU group of publications
Wednesday, Apr 26, 2006
Financial Daily from THE HINDU group of publications Wednesday, Apr 26, 2006 |
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Corporate Results
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Paper, Board & Newsprint Rama Newsprint Q4 net sales up 33 pc Our Bureau
Kolkata , April 25 Rama Newsprint and Papers Ltd has come out with improved results for the quarter ended March 31, 2006 as its net sales increased 33 per cent to about Rs 87 crore from about Rs 66 crore in the corresponding quarter of the previous year. Profit before tax for the quarter under review is Rs 7.14 crore against Rs 22.34 crore in the previous corresponding quarter, which includes a one time extra-ordinary income of Rs 25.22 crore due to restructuring of debts. Better results for the quarter are attributed to lower power and fuel cost by Rs 5.27 crore, lower chemicals cost by Rs 1.18 crore and better net sales realisation by Rs 3.05 crore, although interest burden increased due to increase in the working capital. Net sales for the year ended March 2006 increased 12 per cent to Rs 321 crore from Rs 287 crore on a year-to-year basis. For full year's working, there is a loss before taxation of Rs 5.42 crore against a profit before taxation of Rs 34.19 crore the previous year which includes remission in principal loan amount for Rs 25.22 crore and interest write-back for Rs 21.42 crore on account of restructuring of debts. The company achieved production of 33,138 tonnes for the quarter and 1,23,109 tonnes for the 12 months of the current year against 30,235 tonnes in the corresponding quarter and 1,18,092 tonnes in the corresponding 12 months of the previous year. A company press note said Rama Newsprint and Papers has been able to make zero finished goods inventory as on March 31, 2006. Meanwhile, approvals for reduction in the company's share capital from Rs 232.63 crore to Rs 58.16 crore have been received from the equity shareholders and stock exchanges and petition with the Ahmedabad High court is listed for hearing on April 27, 2006.
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