WCPM net up 57%
The earning per share for the quarter was Rs 18.03 compared to Rs 11.46 in the corresponding previous quarter.
By TNN |
KOLKATA: West Coast Paper Mills (WCPM) on Tuesday reported a 57.42 % rise in net profit at Rs 16.12 crore for the second quarter (Q2) to September 30, 2006, compared to a Rs 10.24 crore net in the earlier corresponding period. Profit growth comes despite a modest 9.97 % rise in WCPM's July-September net sales revenue at Rs 140.90 crore (Rs 128.12 crore).
A S K Bangur group-company with interests in paper, paper boards and telecom cables, the company said “the working results would have been better but for the increase in raw material cost, chemicals, power and fuel”. However, the commissioning of 15.5 mw turbine and other equipment has given desired benefits that is reflected in the working results, company officials said after the board meeting in Mumbai.
The earning per share for the quarter was Rs 18.03 compared to Rs 11.46 in the corresponding previous quarter.
Segment-wise details of the quarterly results indicate that profit before interest and tax from the company's paper and paper board division rose to Rs 21.12 crore (Rs 12.67 crore). Loss before interest and tax from the telecom division was higher at Rs 1.02 crore in the said Q2 compared to a loss of Rs 97.39 lakh the previous corresponding quarter.
Other income during the quarter under review stood at Rs 1.33 crore compared to Rs 3.09 crore in the earlier corresponding quarter. Gross profit before depreciation and tax rose to Rs 23.48 crore (Rs 17.07 crore). Interest outgo during the period dipped marginally to Rs 1.29 crore against Rs 1.73 crore in the previous corresponding quarter. Depreciation cost, however, was marginally up at Rs 5.25 crore in the quarter under review compared to Rs 5.02 crore in the previous corresponding quarter.
Profit before tax was Rs 18.23 crore during the July-September quarter against Rs 12.05 crore in the corresponding quarter last fiscal.
A S K Bangur group-company with interests in paper, paper boards and telecom cables, the company said “the working results would have been better but for the increase in raw material cost, chemicals, power and fuel”. However, the commissioning of 15.5 mw turbine and other equipment has given desired benefits that is reflected in the working results, company officials said after the board meeting in Mumbai.
The earning per share for the quarter was Rs 18.03 compared to Rs 11.46 in the corresponding previous quarter.
Segment-wise details of the quarterly results indicate that profit before interest and tax from the company's paper and paper board division rose to Rs 21.12 crore (Rs 12.67 crore). Loss before interest and tax from the telecom division was higher at Rs 1.02 crore in the said Q2 compared to a loss of Rs 97.39 lakh the previous corresponding quarter.
Other income during the quarter under review stood at Rs 1.33 crore compared to Rs 3.09 crore in the earlier corresponding quarter. Gross profit before depreciation and tax rose to Rs 23.48 crore (Rs 17.07 crore). Interest outgo during the period dipped marginally to Rs 1.29 crore against Rs 1.73 crore in the previous corresponding quarter. Depreciation cost, however, was marginally up at Rs 5.25 crore in the quarter under review compared to Rs 5.02 crore in the previous corresponding quarter.
Profit before tax was Rs 18.23 crore during the July-September quarter against Rs 12.05 crore in the corresponding quarter last fiscal.
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