The Hindu Business Line : Orient Paper annual post-tax profit at Rs 131 cr

Kolkata May 1 Orient Paper & Industries Ltd, part of GP-CK Birla Group, has posted an all-round growth in its performance in 2006-07. Net sales of the company increased to Rs 1,097 crore, recording a growth of 29 per cent over last year. It earned a post tax profit of about Rs 131 crore. The board has recommended a final dividend of 100 per cent for the year including the interim dividend paid earlier.

All three divisions of the company have performed well with cement business growing by 50 per cent. Its cement plants in Andhra Pradesh and Maharashtra achieved full capacity utilisation with volumes going up to about 24 lakh tonnes in the year under review against 22 lakh tonnes last year. Cement accounted for 54 per cent of the company's turnover. Anticipating higher demand in the coming months, Orient Paper is expanding its cement manufacturing capacity from 2.4 million tonnes per year to 5 million tonnes. Additional capacity of one million tonnes is expected to become available within the 2007-08 fiscal, and the balance is scheduled to be completed by 2008-09.

A 50-MW captive power plant is being set up at the Devapur cement plant and is expected to be commissioned during 2008-09.

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