Ballarpur Ind net up 68% in June quarter

NEW DELHI: Ballarpur Industries (Bilt) has reported 67.7% increase in net profit for the quarter ending June’06. Net profit rose from Rs 40.5 crore to Rs 67.8 crore during the third quarter.

This includes an exceptional item of Rs 12.4 crore. Net sales during the fourth quarter rose 11.1% to Rs 525 crore compared to Rs 472.3 crore during the corresponding quarter last year.

For the year ending June’06, Bilt posted 26.1% increase in net profit which rose from Rs 168 crore to Rs 212 crore. Net sales for the financial year increased 4.4% to touch Rs 1,870 crore.

On a consolidated basis, the paper manufacturer reported 26.7% increase in its net profit for FY’06. Net profit stood at
Rs 214 crore compared to Rs 168.9 crore during the previous year.

Net sales on a consolidated basis rose 6.1% and stood at Rs 2,120.4 crore for the fiscal.

The company which announced acquisition of Malaysian pulp and paper company Sabah Forest Industries during the last quarter is expected to close the deal by end of October.