The Hindu Business Line : Orient Paper Q4 net remains flat

Orient Paper and Industries Ltd has reported a marginal net profit of Rs 48.11 crore for the quarter ended on March 31, 2008, an increase of 0.2 per cent compared to Rs 47.99 crore in the corresponding period last year.

For the year-ended March 31, 2008, the company has posted a 56 per cent rise in its net profit at Rs 204.4 crore as against Rs 130.7 crore for the last fiscal. The company also reported an increase of 9.3 per cent in its total income at Rs 381.87 crore in the fourth quarter of 2007-08 as against Rs 349.32 crore in the same quarter 2006-07, Orient Paper said in a statement.

It also reported an increase of 16.01 per cent increase in total income at Rs 1399.56 crore in the financial year ended on March 31, 2008 as compared to Rs 1206.40 crore in the 2006-07 fiscal.

The company has already paid an interim dividend of 50 per cent during the year. The board has recommended a final dividend of 70 per cent bringing the total dividend to 120 per cent for the year.

Further, the board has decided to merge Air-conditioning Corporation Ltd, a wholly owned subsidiary with the company, subject to such approvals as may be required. - Our Bureau

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