Orient Paper & Industries has recorded a net profit after tax of Rs 51.22 crore in the quarter ended December 2008, a decline of 4.15 per cent over the same period last year. Net sales were, however, higher by 7.8 per cent to Rs 345.87 crore. M L Pachisia, managing director, OPIL, said, “The projects to expand our cement capacity to five million tonnes per annum along with setting up of a 50-MW captive power plant are at an advanced stage of completion and are likely to be commissioned in a phased manner during the next two quarters. The new tissue plant to expand our tissue paper capacity by 15,000 tonnes is also expected to be commissioned during the first quarter of 2009. In our electrical consumer products division, our new lighting products have already been launched successfully and are gaining increasing market share.”
Harrisons Malayalam net dips 78.09%
Harrisons Malayalam, an RPG company, has recorded a net profit of Rs 87 lakh in the quarter ended December 2008, a drop of 78.09 per cent from the same period last year, on the back of a sharp decline in rubber prices. Net sales/income from operations stood at Rs 69.68 crore, up by 39.5 per cent.
Birla Corporation net dips 23.52%
Birla Corporation, the flagship of the M P Birla group, has recorded a net profit of Rs 81.38 crore in the third quarter ended December 2008, down by 23.52 per cent from the same period last year, on account of higher power and fuel cost. Also, operations at the jute division were adversely affected on account of strike by mill workers. Turnover was at Rs 518.16 crore, up by 4.08 per cent. Implementation of the new cement capacity in the industry in the next two years, coupled with the likely sluggishness in economic growth, is likely to impact realisation adversely.
