Ballarpur Industries Q2 net up 31.81 pc

Mumbai, Oct 17 (UNI) Ballarpur Industries has posted a net profit of Rs 58.26 crore for the quarter ended September 30,2006 as against Rs 44.20 crore for the quarter ended September 30, 2005, a rise of 31.81 per cent.

Announcing the results, the company said its total income (net of excise) has increased by 21 per cent from Rs 437.92 crore for the quarter ended September 30, 2005 to Rs 529.91 crore for the quarter ended September 30, 2006.

Recently, the company has entered into MoU with Maharashtra Government for capacity expansion of its paper plant at Bhigwan in Pune.

The proposed two-phase capacity expansion will cost Rs 1200 crore and the plant is to produce coated and uncoated papers. In the first phase, an additional 1.40 lakh tonnes capacity would be added at Bhigwan, valued at Rs 500 crore and would become operationaln by 2008.

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