Paper Products, Rajasthan Spinning & Subex results

CORPORATE SCORECARD

Paper Products Q4 net down 6%

Paper Products' net profit declined by six per cent to Rs 630 crore in the quarter ended March 2005 compared with Rs 673 crore in the corresponding period of last fiscal. Net sales during the quarter was Rs 101.10 crore (Rs 96.8 crore).

The historically unprecedented increase in raw material prices mid 2004 driven by the surge in petrochemicals prices and the stiff resistance from customers to a hike in selling price has affected the top line and, consequently, bottomline.

Rajasthan Spinning Q4 net up 20%

Rajasthan Spinning and Weaving Mills (RSWM) has registered a 20 per cent growth in profit at Rs 10.72 crore in the last quarter of the financial year ended March 31, 2005. Revenues rose 16 per cent to Rs 195.96 crore (Rs 165.18 crore).

However, the company's annual profits dipped to Rs 18.41 crore in 2004-05 from Rs 18.45 crore in financial year 2003-04. Revenues rose to Rs 733.94 crore. (Rs 635.41 crore).

Riju Jhunjhunwala, joint managing director, RSWM, said: "FY 2005 has been a challenging year for us where we performed credibly in a tough environment. Our performance will be better FY2006 onwards as a number of acquisitions are underway that will complement our synthetic yarn operations and strengthen our forthcoming garment business".

Subex Q4 profit up 66% to Rs 8 cr

Subex Systems, a telecom products firm, has posted fourth quarter profit of Rs 8.1 crore, up 66 per cent over the same quarter last fiscal.

Revenues grew 41.4 per cent quarter on quarter. For the full year to March, revenues increased 33 per cent to Rs 116 crore and net profit rose 45 per cent to Rs 25.72 crore, a company release said.

Subash Menon, chairman and managing director, said: "We are not giving any guidance for the next quarter as, being a products firm, we never give any quarterly guidance".

For the full fiscal year 2006, the company says its products business will grow to between Rs 95 crore and Rs 100 crore. It forecasts full year profit after taxes to be between Rs 38 crore and Rs 40 crore.

Profits of the firm come almost entirely from its products business, which sells fraud detection software packages to telecom operators across the globe.

In the three months to March, the products business grew 84.7 per cent quarter on quarter, to Rs 22.5 crore. For the full year, the products business grew 58 per cent to Rs 62.8 crore.