Business Daily from THE HINDU group of publications
Sunday, Jul 26, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Sunday, Jul 26, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate Results
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Paper, Board & Newsprint Expansion helps Seshasayee Paper’s net 
Our Bureau Chennai, July 25 Seshasayee Paper and Boards Ltd has reported a 61 per cent jump in net profit for the first quarter ended June 30 over the corresponding period last year. The company has attributed the performance to increased profitability following commissioning of an expanded pulp mill which led to in-house availability of raw material and other cost conservation methods. According to a press release, the company has reported a net profit of Rs 10.15 crore (Rs 6.29 crore) on an income of Rs 120.69 crore (Rs 111.18 crore) in the first quarter. Higher interest Rs 6.69 crore (Rs 95 lakh) and depreciation Rs 8.40 crore (Rs 4.65 crore) had an impact on net profits for the first quarter. Cost control measuresDuring 2008-09, the company completed a Rs 350-crore investment that put in place a 440-tonnes-a-day pulp mill, 16 MW TG set, lime kiln and chemical recovery boiler. This helped the company avoid importing pulp and save on power cost. Addressing shareholders at the annual general meeting in Erode, Tamil Nadu, Seshasayee Paper’s Chairman and Managing Director, Mr N. Gopalaratnam, said the paper industry would be fully stretched to maintain capacity utilisation during the current year due to the economic downturn. Internal cost control measures will be key to protecting margins. Some relief could be expected from lower cost of inputs, including pulp, coal and some chemicals. More Stories on : Paper | rd & Newsprint
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