The Paper Products Ltd, India's leading flexible packaging company, reported 14 per cent rise in net profit in the first half of the current calendar year because of higher realisation in specialised products.
The company reported a net profit at Rs 13.41 crore for the first half ending June 30, 2008 as against Rs 11.74 in the corresponding period last year.
During the period under consideration, net sales at Rs 330.64 crore, recorded a growth of 21.8 per cent over Rs 271.55 crore in the comparable period last year. The profit before tax shot up by 17.4 per cent at Rs 17.50 crore as compared to Rs 14.90 crore.
A sudden rise in the input cost affected the company’s net profit in the second quarter of the current calendar year resulting into a marginal fall to Rs 3.98 crore from Rs 4.00 crore in the same period last year.
The company achieved sales of Rs 172.40 crore in the second quarter, representing a growth of 22 per cent Rs 141.29 crore in the corresponding quarter last year. Profit before tax at Rs 5.72 crore recorded a marginal growth from Rs 5.55 crore in the comparable last year’s period.