Business Daily from THE HINDU group of publications
Saturday, Jul 29, 2006
Business Daily from THE HINDU group of publications Saturday, Jul 29, 2006 |
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Corporate Results
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Paper, Board & Newsprint RNPL posts Rs 10- cr net on low fuel cost Our Bureau
Kolkata , July 28 Rama Newsprint and Papers Ltd (RNPL) has come out with substantially improved results for the quarter ended June 2006 with net sales increasing by 33 per cent to about Rs 89 crore from Rs 67 crore in the corresponding year-ago period. The company has earned a net profit of Rs 10.22 crore during the quarter under review against a net loss of Rs 3.12 crore in the previous year's corresponding period.Better result for the quarter is attributed to lower power and fuel cost by Rs 3.99 crore, lower chemicals cost by Rs 1.57 crore and better sales realisation by Rs 8.16 crore. According to a company press note, the performance for the quarter would have been further better but due to loss of production on account of planned shutdown for changing of drainage elements of both the paper machines in April 2006, annual maintenance of boilers and due to unscheduled change of wires and felts. RNPL has achieved 100 per cent capacity utilisation at 33,084 tonnes for the quarter against 30,453 tonnes (92 per cent) in the corresponding quarter last year. Finished goods inventory was at 87 tonnes (8,893 tonnes).Meanwhile, the Ahmedabad High Court has allowed the company to reduce its share capital from Rs 232.63 crore to Rs 58.16 crore with effect from May.
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