Pudumjee Paper Products Limited (PPPL) has reported impressive results for the nine month period ended December 31, 2016.
During the nine month period ended December 31, 2016, the Company sold 42,288 MT of paper, a 12 per cent increase over 37, 851 MT sold during the same period in the previous year. While the turnover for the nine month period increased marginally to Rs 385 crore (Rs 378 crore), EBIDTA for the period increased by 27 per cent to Rs 32.59 crore (Rs 25.71 crore).
The net profit for the nine month period ended December 31, 2016 showed a steep rise of 125 per cent and stood at Rs13.94 crore (Rs 6.19 crore).
The sharp increase in profitability has been on account of comparatively lower input costs, change in product mix and market strategy as necessitated by market conditions especially in the post demonetization period.
