West Coast Paper Mills slipped 4.26% to Rs 476.55 after the company said that its production at the paper and paper board division at Dandeli has been disrupted due to illegal strike of contract workers.
The company said that the strike was called by Joint Negotiation Committee of Trade Unions for unreasonable demands; further updates and expected loss will be informed.Futher, the company's management stated that it is expecting to settle the matter amicably.
West Coast Paper Mills, part of Bangur group, is one of the leading player in the Indian Paper Industry.
The company's consolidated net profit jumped 237.9% to Rs 263.74 crore on 42.1% rise in net sales to Rs 1,239.16 crore in Q3 FY23 over Q3 FY22.
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