The Hindu Business Line : BILT Q1 net up 32 pc

Ballarpur Industries Ltd (BILT) on Tuesday reported a growth of 31.8 per cent in its net profit to Rs 58.26 crore for the first quarter ended September 30, from Rs 44.20 crore in the corresponding period in the previous year.

The company also reported a growth in sales (including excise duty) of 17.74 per cent to Rs 577.52 crore (Rs 490.47 crore). BILT follows the July 1-June 30 financial year.

"Overall the economy is doing well and there has been an increased demand from all segments, including educational, media and advertising segments," said the BILT Managing Director, Mr R.R. Vederah.

"Demand continues to be strong while there has been a rise in input costs. We are looking at about Rs 500 per tonne average price hike next month," he added. In July and September, the company had hiked prices of its coated and uncoated paper respectively.

The company has signed a memorandum of understanding with the Maharashtra Government for its proposed Rs 1,200-crore capacity expansion at the Bhigwan unit, Mr Vederah said.

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