International Paper APPM plunges on poor Q4 numbers

NEW DELHI: Shares of International Paper APPM slumped up to 9 per cent in trade on Monday after a decline in company’s operational profit.

The company reported net profit of Rs 203.8 crore as compared to Rs 64.8 crore in the same period a year ago, largely due to exceptional gains of Rs 290.2 crore in the quarter.

The company’s earnings before interest, taxes declined 8.28 per cent to Rs 120.5 crore from Rs 136.6 crore in the year ago period. On a sequential basis, the company’s earnings before interest, taxes declined 50 per cent.

Reacting to the Q4 results, the stock slipped 8.66 per cent to hit a low of Rs 284 on the BSE.