The Hindu Business Line : BILT posts 5.13% rise in Q4 net profit

New Delhi, Aug. 28 Ballarpur Industries Ltd (BILT) has reported a 5.13 per cent rise in its net profit at Rs 73.07 crore for the fourth quarter ended June 30, 2008, as against Rs 69.50 crore reported during the corresponding quarter last year.

The company’s revenues also went up by 16.60 per cent to Rs 793.20 crore from Rs 680.26 crore achieved during the corresponding quarter of last fiscal.

BILT follows July 1-June 30 financial year.

The net profit for the year ended June 30 grew by 19.06 per cent to Rs 303.6 crore (Rs 255 crore).

The gross revenues were Rs 3,026 crore, an increase of 19.90 per cent.

Rs 1,400-cr investments

The company, which has six manufacturing units across India, said it will invest close to Rs 1,400 crore for its expansion programmes across the country.

This apart, it is also looking to firm up its retail foray. “Retail will be an area of focus for us,” Mr R.R. Vederah, Managing Director, said.

Price hike

Asked if another round of price hike is on cards, Mr Vederah said the company is increasing the price of uncoated paper by Rs 700 a tonne by September.

The company accounts for over 50 per cent of the coated wood-free paper market, 85 per cent of the bond paper market and nearly 45 per cent of the hi-bright Maplitho market, besides being India’s largest exporter of coated paper.

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BILT posts 5.13% rise in Q4 net profit