The Paper Products (PPL), the country’s leading flexible packaging material manufacturer, 172 per cent rise in net profit at Rs 10.84 crore in the quarter ending June 30, 2009 as compared to Rs 3.99 crore in the corresponding quarter last year.
However, total sales of the company declined marginally by 10.92 per cent to Rs 155.47 crore from Rs 174.53 crore which was attributed to the global economic slowdown.
During the quarter, PPL completed reconstruction of Thane plant and commenced commercial production of flexible packaging paper.