Bilt Q3 net up 27% to Rs 56.06 cr

BS 200 SCORECARD

Ballarpur Industries' (Bilt) net profit rose 27 per cent to Rs 56.06 crore for the third quarter ended March 2006 compared with Rs 44.21 crore recorded in the corresponding quarter last year.

Profit before tax rose 32 per cent to Rs 70.78 crore, compared with last year's Rs 53.68 crore. Consolidated sales for the quarter rose 14 per cent to Rs 567.68 crore from Rs 499.16 crore in the year-ago period.

For the nine-month period ended March 2006, the company's net profit rose 16 per cent to Rs 147.69 crore over last year's Rs 127.64 crore. Consolidated sales rose 5 per cent to Rs 1,552.57 crore from Rs 1,472.10 crore.

"Rising paper prices, rationalisation of excise duty from 16 per cent to 12 per cent in the Budget are improving our revenues," said R R Vederah, joint managing director of the company.

Segment-wise, the company's consolidated paper revenues rose 19.18 per cent during the quarter to Rs 468.39 crore compared with last year's Rs 393.02 crore. For the nine-month period, consolidated revenues were at Rs 1,249.48 crore, compared with last year's Rs 1,179.05 crore.

The most substantial rise is, however, seen in paper products and office supplies segment where total revenues in the last quarter touched Rs 49.16 crore compared with last year's Rs 5.80 crore. For the nine-month period, consolidated revenues were at Rs 69.42 crore compared with last year's Rs 16.67 crore.

"There will be an increased focus in this segment for the next one year as we plan to expand our retail business. Number of outlets will be increased to 20,000 from the current 13,000 and we will enter new non-paper stationery segments," said Vederah.

The company plans to introduce high-life writing instruments and plans to launch it via tie-ups with various international manufacturers.

"It will be our brand and the products will be outsourced," Vederah added.