AP Paper Mills reports higher profit

Hyderabad, Jun 28 (UNI) The Andhra Pradesh Paper Mills, a leading writing and printing paper maker, achieved a profit after tax at Rs 35 crore for the year ending March 31 this year, representing 40 per cent increase over the corresponding period last year.

Company Executive Director R C Mall said the profits came on the back of Rs 509 crore revenues for the year 2005-06.

Its profit after tax was up at Rs 7.54 crore in the current quarter as compared to Rs 6.36 crore for the same period last year.

The key highlights for the year was Rs 635 crore investment for expansion, modernisation and upgradation of its pulp and paper makikng facilities.

The first phase involving Rs 500 core was set for completion by August this year and help the company enjoy six to seven per cent higher sales realisation and cost reduction to the tune of 12 to 13 per cent.

On completion, the company's production capacity will increase from 1,53,500 tonne a year to 1,77,000 tonne a year apart generating surplus pulp to the tune of 30,000 tonne.

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