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West Coast Paper posts Rs 7 cr net

Our Bureau

CALCUTTA, Nov. 1

WEST Coast Paper Mills Ltd (WCPL) has earned a net profit of Rs 7.41 crore on a total sales of Rs 96.57 crore during the second quarter of the current fiscal. The net profit was higher by 60 per cent as against Rs 4.83 crore earned during the same quarte r previous year.

With an improved performance in Q2, WCPL's half yearly gross profit under review touched at Rs 24.65 crore as against Rs 11.55 crore in the corresponding period previous year.

The half yearly net profit has also gone up to Rs 13.75 crore from Rs 6.75 crore, an increase by 104 per cent also. This was achieved after making provision for taxation to the extent of Rs 5.9 crore against no provision during the same half last year.

According to WCPL sources, the company produced about 49,451 tonnes of writing and printing paper in the first half (44,725 tonnes).

Export of paper increased by 48 per cent, while the production of duplex board was higher at 11,568 tonnes as against 11,135 tonnes in the same half last year.

With the re-commissioning of paper machine-II in February this year, the company could produce an additional 500 tonnes per month against the targeted increase of 400 tonnes per month.

Meanwhile, a 4.04 MW capacity multi-fuel based captive power plant has been commissioned, thereby enhancing its power generation capacity to 11.84 MW. The company is now self sufficient in captive power.

WCPL is currently implementing a jelly filled telecommunication cable project which is expected to be commissioned by the end of the current month. Type approval is likely to be obtained by January next year and it hopes to begin executing the orders fro m March next. -- Our Bureau