Paper Products has rallied 7% to Rs 82.45 after reporting a strong 66% year-on-year (yoy) jump in consolidated net profit at Rs 16.66 crore for the fourth quarter ended December 31, 2013 (Q4), mainly on account of Rs 7.05 crore gain on sale of office property in Mumbai. The company had profit of Rs 10 crore in the same quarter year ago.
Net sales of the company during the quarter under review increased by 22.4% at Rs 279 crore against Rs 228 crore in the corresponding quarter of previous year, Paper Products said in a statement.
Meanwhile, the board has proposed a dividend of Rs 2.80 per share for the year ended December 2013.
The stock opened at Rs 76.75 and hit a 52-week high of Rs 83.50 on BSE. The counter has seen heavy trading activity with a combined 455,332 shares changed hands till 0955 hours, against an average sub 200,000 shares that were traded daily in past two weeks on the BSE and NSE.
Net sales of the company during the quarter under review increased by 22.4% at Rs 279 crore against Rs 228 crore in the corresponding quarter of previous year, Paper Products said in a statement.
Meanwhile, the board has proposed a dividend of Rs 2.80 per share for the year ended December 2013.
The stock opened at Rs 76.75 and hit a 52-week high of Rs 83.50 on BSE. The counter has seen heavy trading activity with a combined 455,332 shares changed hands till 0955 hours, against an average sub 200,000 shares that were traded daily in past two weeks on the BSE and NSE.