Orient Paper FY08 net up 16% at Rs 204.40 cr

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New Delhi, Apr 21 (UNI) Orient Paper and Industries Ltd, a part of the CK Birla Group, today said it has seen a 16 per cent jump in its net profit for the year ended March 31, 2008 at Rs 204.40 cr from Rs 130.7 cr a year ago.

Its gross sales for FY08 has increased 18 per cent to Rs 1,497 crore from Rs 1,265 crore last year, with a net sales increased to Rs 1,292 crore from 1,097 crore last year, the company said in a statement.

The company's board has recommended a final dividend of 70 per cent, bringing the total dividend to 120 per cent for the year.

Orient has already paid an interim dividend of 50 per cent during the year. Last year, it had paid dividend of 100 per cent.

The company has expanded its cement capacity by one million tonnes, thus bringing its capacity to 3.4 million tonnes per year.

The next phase of cement expansion up to five million tonnes is expected to be completed on schedule before end of FY09, it added.

UNI SBA SG BST1935

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