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KOLKATA, JAN 31: West Coast Paper Mills Ltd has reported a net profit of Rs 16 crore on net sales of Rs 134.84 crore for the quarter to December 31, 2006, against a net profit of Rs 10.56 crore on sales of Rs 133.81 crore for the same period of the previous year.
The company attributed the 54% increase in net profit to higher sale prices and cost savings derived by the commissioning of its own 15.5mw power unit.
It said the results would have been better but for the increase in the cost of raw materials, chemicals and power and fuel.
The earning per share for the quarter was Rs 18.19 (annualised Rs 72.76) against Rs 11.82 in the corresponding quarter of the previous year (annualised Rs47.28).
West Coast is expanding its capacity from 1,63,750 tonne per annum to 3,20,000tpa with an investment of Rs 1,100 crore to be financed with a loan (Rs 725 crore), internal accruals (Rs 175 crore) and equity infusion (Rs 200 crore). |
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