Rainbow Papers Ltd has reported a 37 per cent increase in gross sales and 57 per cent in PAT in the financial year ended March 31, 2011, compared to the corresponding period last fiscal. While the sales were Rs 401.7 crore (Rs 292.8 crore), PAT was Rs 37.1 crore (Rs 23.6 crore), the company said in a statement here.
On Wednesday, Rainbow Papers' shares on the BSE closed 1.29 per cent up at Rs 62.90. Volumes handled have gone up from 1.08 lakh tonnes to 1.37 lakh tonnes while average realisation increased to Rs 28.1 a kg (Rs 25.4). The company's ongoing capacity expansion to 3.05 lakh tonnes per annum, expecting completion in second quarter this fiscal, will make Rainbow Papers the sixth largest paper producer in India.