Financial Daily from THE HINDU group of publications
Friday, Apr 02, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 02, 2004 |
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Corporate
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Performance HPC, subsidiary post Rs 870-cr combined turnover Our Bureau
Kolkata , April 1 THE State-owned Hindustan Paper Corporation (HPC) has ended the 2003-04 fiscal surpassing all previous records in production and sales of both writing and printing paper and newsprint. The combined sales turnover of HPC and its wholly-owned subsidiary — Hindustan Newsprint Ltd (HNL) moved to the level of Rs 870 crore on all-time high production of 3,22,570 tonnes. This is the second year in succession in which HPC crossed a combined installed capacity of 3,00,000 tonnes. HPC operates three large integrated paper mills — two in Assam and one in Kerala through its wholly-owned subsidiary — HNL. According to a HPC press release, of the total production achieved, 2,03,684 tonnes consisted of writing & printing paper. The balance 1,13,527 tonnes were newsprint. Meanwhile, HPC concluded an MoU with the Union Government for the year 2004-05, setting out ambitious targets for enhancing volumes and operational efficiencies with future focused strategies on modernisation and technological upgradation, aiming at the turnover exceeding Rs 900 crore.
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