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Pudumjee Paper Products has doubled its net profit to ₹20 crore in the financial year ended March 31, 2017. Its turnover was up 10 per cent at at ₹544 crore (₹495 crore).
The EBIDTA for the year grew 34 per cent to ₹47 crore (₹35 crore).
The company has declared dividend of 15 paise per equity share.
In the March quarter, its sales increased 38 per cent to ₹158 crore (₹115 crore) while net profit was up 50 per cent at ₹ 6 crore (₹4 crore).
During the year, the company sold 60,483 tonnes (49,292 tonnes) of paper, an increase of 23 per cent. The sharp increase in profitability was on account of change in product mix and market strategy and comparatively lower input costs in the paper division, said the company in a statement.
The company is on the verge of completing the full width super calender project and 132 KVA substation which are expected to contribute towards better profitability, it added.
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