Pudumjee Paper Products Year Ended Profit Up by 60%
Pune, 12th June, 2020: Pudumjee Paper Products Limited (PPPL) has reported encouraging results
for the year ended 31stMarch, 2020 in spite of lockdown during last
10 days of the year.
During the year
ended 31stMarch, 2020, the Company produced 68548 MT of paper, an 8%
increase over 63607 MT produced during the same period in the previous
year. While the Turnover for the year
increased by about 3% to Rs.60448 lacs (Rs.58952 lacs), EBIDTA for the period
increased by 49% to Rs.6092 lacs (Rs.4083 lacs) due to improved operating
efficiency and lower cost.
Profit Before Tax for
the year ended 31st March, 2020 showed a rise of 60% and stood at Rs.4105 lacs
(Rs.2562 lacs) while Profit After Tax for the year stood at Rs.2721 lacs (Rs.
1674 lacs).
The company
manufactures various specialty papers required as input for packaging material
in pharmaceutical products, hospital supplies, hygiene sectors, food,
confectionary etc.
The Company after
obtaining requisite permission from Government of Maharashtra and taking appropriate
measures for safety, hygiene and well-being of all its employees and workers
resumed production at its Pune plant on 12th May 2020 and is
currently operating at about 50% of capacity and believes that the capacity
utilization may gradually improve as the economy returns to normalcy, post
lockdown.
〰〰〰
