The Hindu Business Line : Marginal increase in Orient Paper 1st quarter net

NEW DELHI: The G P and C K Birla Group subsidiary, Orient Paper and Industries on Tuesday announced a 3 per cent increase in its quarter one profit after tax which stood at Rs 46.11 crore this fiscal, over last year's Rs 44.60 crore.

The company also reported a net sales of Rs 321.76 crore during the quarter ended June 30, a 10 per cent growth over the Rs 293.07 crore net sales achieved during the first quarter of 2007-08, Orient Paper and Industries said in a statement issued here.

“All businesses of the company continue to register good growth, enhanced efficiencies and improved profitability,” the company said.

The company's cement segment reported a 14 per cent growth in profit before interest tax (PBIT) with Rs 84.11 crore during quarter one this year, compared to Rs 73.62 crore during the corresponding period last fiscal.

Net sales of cement have increased by 24 per cent, from Rs 170.63 crore during first quarter of 2007-08 to Rs 211.59 crore this year.

In paper business, the company reported a downfall of 45 per cent in net sales, from Rs 62.07 crore during quarter one of 2007-08 to Rs 34.17 in the corresponding quarter this year.

The company's electrical business registered a 118 per cent rise in PBIT at Rs 4.57 crore during quarter one of this year, up from Rs 2.10 crore during the last fiscal's corresponding quarter.

Net sales in the electrical business increased to Rs 76.01 crore during quarter one of current fiscal, a growth of 29 per cent over the figure of Rs 59.14 crore during the corresponding quarter of 2007-08 the company added. - PTI

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