Paper Products gained 5.13% to Rs 80.95 at 11:22 IST on BSE, after consolidated net profit surged 66.1% to Rs 16.66 crore on 22.61% rise in net sales to Rs 279.02 crore in the quarter ended December 2013 over the quarter ended December 2012.
The quarterly result was announced after market hours on Tuesday, 18 February 2014.
Meanwhile, the BSE Sensex was up 36.93 points, or 0.18%, to 20,671.14
On BSE, so far 1.82 lakh shares were traded in the counter as against an average daily volume of 14,796 shares in the past one quarter.
The stock hit a 52-week high of Rs 83.50 in intraday trade today, 19 February 2014. The stock hit a low of Rs 76 so far during the day. The stock had hit a 52-week low of Rs 56.50 on 29 April 2013.
The small-cap stock had outperformed the market over the past one month till 18 February 2014, rising 8.45% compared with the Sensex's 2.04% fall. The scrip had also outperformed the market in past one quarter, gaining 22.71% as against Sensex's 1.04% decline.
The company has an equity capital of Rs 12.54 crore. Face value per share is Rs 2.
On a consolidated basis, Paper Products' net profit rose 24.68% to Rs 56.21 crore on 20.33% rise in net sales to Rs 1074.80 crore in the year ended 31 December 2013 over the year ended 31 December 2012.
Paper Products' board of directors at its meeting held on 18 February 2014, recommended dividend of Rs 2.80 per share for the financial year ended 31 December 2013. In terms of provision to Clause 20 of the Listing Agreement the dividend if approved by the shareholders at the forthcoming Annual General Meeting shall be paid / despatched on or before 15 May 2014, Paper Products said.
Paper Products offers a wide portfolio of packaging solutions that include flexible packaging, labeling technologies and specialized cartons.
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