The Hindu Business Line : Demand boosts BILT net 20% in Q4; 30% dividend declared

New Delhi, Aug. 29 Aided by a strong demand of paper in recent quarters, Ballarpur Industries Ltd (BILT) on Wednesday reported a 19.68 per cent increase in its net profit at Rs 66.28 crore for the fourth quarter ended June 30, 2007, compared with a net profit of Rs 55.38 crore in the corresponding period last year.

The company’s fourth quarter net revenues increased by 1.88 per cent to Rs 591.01 crore against Rs 580.06 crore recorded in the corresponding period last year.

For the financial year ended June 30, 2007, BILT has recorded a net profit of Rs 250.75 crore. This represents a 18.27-per cent increase over a net profit of Rs 212 crore recorded in the previous financial year that ended on June 30, 2006.

BILT’s net revenue for the financial year 2006-07 increased by 18.85 per cent to Rs 2,379.88 crore from Rs 2,090.10 crore in the last year. “Our performance for the financial year 2006-07 has been positive and reflects a firm market condition, supported by a compact demand growth across the paper industry. With the expected growth of the economy, an increase in the per capita consumption of paper is also expected,” said a company official.

BILT’s consolidated net profit for the financial year ended June 30, 2007, which includes the performance of the Malaysia-based Sabah Forest Industries, saw a 19.17 per cent increase to Rs 255.06 crore compared with Rs 214.03 crore in the previous financial year. The board of directors has recommended a dividend of 30 per cent, including an interim dividend of 15 per cent already paid. The total dividend pay out, including dividend tax, stood at Rs 61.70 crore.

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Demand boosts BILT net 20% in Q4; 30% dividend declared