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This article discusses the parameters that need to be considered while choosing a paper stock.
Tamil Nadu Newsprint & Papers Ltd has reported a net of Rs 10.3 m for the 3QFY2000. The main reason for this flat growth in profits is sales growing by 2.5% and expenditure by 9%.
The West Coast paper Mills has posted a sharp 61% rise in profits even as sales grew by a slower 6%. This can be attributed to the rise in operating margins and near stagnnant depreciation and interest expenditure.
West Coast Paper Mills Limited has declared a significant 21% jump in net profit to Rs 46 m in second quarter ended September 30, 1999. The turnover improved by a marginal 6% to Rs 796 m during the same period. Other income surged to Rs 17 m (up 25% over 2QFY99)
In 2QFY2000 Ballarpur Ind. Ltd, (BILT) net profit has zoomed 241.1% to Rs 101 m.
Pudumjee Pulp and Paper Mills has posted a net profit of Rs 28 m for the quarter ended 30th September 1999. The company has benefited from the significantly lower operating costs. However, the sharp rise in interest expenditure can be a source of concern in the future.
West Coast Paper Mills has posted a 21% jump in profits for the quarter ended 30th September 1999. The company has benefited on account of reduces interest and depreciation expenditure.
Sarda Papers almost indentical performance in 2QFY2000, compared to 2QFY1999. The company registered a net loss of Rs 2 m (same as last year) and turnover was up slightly by 4% to Rs 26 m.
Ballarpur Ind. (LM Thapar group) is reconsidering its 3 proposed JVs to make specialty paper. This is largely due to the company's decision to focus on commodity paper rather than specialty paper.
Andhra Paper net profit jumped by a whopping 47% to Rs 110 m. Sales also increased by a marginal 6% to touch Rs 2.4 bn. This is indicative of increase in average realisations in the paper industry.