Ballarpur quarterly profit at Rs 27.55 cr

Paper manufacturer Ballarpur Industries Ltd today reported consolidated net profit of Rs 27.55 crore for the quarter ended March 31.
It had posted net profit of Rs 15.42 crore in the January- March period of the 2013-14 fiscal, the company said in a filing to the BSE.
Ballarpur Industries' net sales on consolidated basis were Rs 1,231.31 crore during the quarter, as against Rs 1,354.29 crore in the January-March period of 2013-14.
The company said that its results were not comparable.
"The current financial year commencing from July 1, 2014 for a period of 9 month i'e July 1, 2014 to March 31, 2015 and there after 12 month from April to March every year. Accordingly the same are not comparable with previous year figures," Ballarpur Industries said.

During 2014-15 fiscal, Ballarpur Industries reported a consolidated net loss of Rs 21.35 crore. It had a net profit of Rs 49.30 crore in the year-ago period.

Net sales during fiscal 2014-15 were at Rs 3,625.92 crore. It was Rs 4,020.40 crore a year ago.
Meanwhile, in a separate filing Ballarpur Industries informed that its board has recommended a dividend of Re. 0.20 per equity share of Rs 2 each for the financial year ended March 31, 2015.
Shares of Ballarpur Industries closed at Rs 13.38, down 1.18 per cent, on the BSE.