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Rainbow Papers Ltd, manufacturer of recycled paper and its products, reported a 10 per cent increase in sales and 1 per cent in profit after tax (PAT) in the first quarter of 2011-12, ended June 30, compared to the corresponding quarter in the previous fiscal. While sales were Rs 109 crore (Rs 99.4 crore), PAT stood at Rs 9.7 crore (Rs 9.6 crore), said Mr Ajay Goenka, Chairman and Managing Director, in a statement here. On Thursday, Rainbow's share price on the Bombay Stock Exchange closed 1.81 per cent down at Rs 57. Average realisation during the quarter increased to Rs 31.50 a kg from Rs 28.50 a kg, he added.
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