The Hindu Business Line : BILT records 26.8 pc rise in Q3 net profit

Paper major Ballarpur Industries Ltd (BILT) has announced a change at the helm of the company. Mr Gautam Thapar would take over the Chairmanship of the company from Mr L.M. Thapar who would take on the role of Chairman Emeritus. The change would be effective from July 1 this year.

Speaking on the development, Mr L.M. Thapar said, "I am proud that BILT has attained its leadership position in my lifetime. I am sure that Gautam will continue to lead it to becoming a powerhouse in the Asian region very soon."

Q3 net up 26 pc

The company today also announced its third quarter results. It has recorded a 26.8 per cent increase in its net profit at Rs 56.06 crore for the quarter ended March 31 against Rs 44.21 crore in the corresponding period last year. The total income for the quarter stood at Rs 569.86 crore, up 13.81 per cent over Rs 500.67 crore in the year-ago period.

It has posted a 15-per-cent rise in its net profit at Rs 147.69 crore for the nine-month period ended March 31 against Rs 127.64 crore in the same period last year. The consolidated revenue stood at Rs 1,558.82 crore up 5.5 per cent over Rs 1,477.23 crore in the year-ago period.

BILT stated that the rationalisation of excise duty announced in the Union Budget has added to its bottomline growth.

Focus on retail biz

The company added that it is stepping up focus on its retail business. It is now enhancing its products portfolio by adding more stationery items such as writing instruments, file covers and photographic paper among others.

``We want to build this business,'' said Mr R.R. Vederah, Joint Managing Director of BILT.

The company, he said, is looking to add pens and other lifestyle high-end products to its existing portfolio that includes 64 stock keeping units currently.

BILT is also in the process of conducting due diligence for its proposed foray into premium writing instruments. ``We will enter into a liaison with someone for it,'' Mr Vederah said.

Mr B. Hariharan, Group Director (Finance) of BILT, said the company plans to import writing instruments and start selling them in the country in the next three to four months.

BILT expects to double its revenue from the retail business, under which it sells notebooks, notepads, copier paper and other products, to Rs 100 crore by June next year from Rs 49.16 crore this year.

The company also expects to increase the number of retail outlets to 20,000 shops by June 2007, from about 15,000 now, Mr Vederah said.

BILT's stock price closed at Rs 134.10, down 1.51 per cent from the previous day's close of Rs 136.15.

More Stories on : Paper | rd & Newsprint | People

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page