Bowing down to the demands of foreign institutional shareholders, Country’s largest paper manufacturer, Ballarpur Industries, simplifying its corporate structure, will transfer two paper units to a step-down subsidiary that would be listed overseas, as mentioned in some media reports. In a make-over, Delhi based company will exchange two copier paper making units for a rayon grade pulp mill, part of the unlisted BILT Graphics Paper Products (BGPPL).
The company witnessed a 11.39% growth in the revenue at Rs 291.15 crore for the quarter ended March 2012 as compared to Rs 261.37 crore during the year-ago period. A decline of 75.75% was reported in the net profit of the company for the March quarter, 2012 to Rs 2.26 crore from Rs 9.32 crore in the corresponding quarter of the previous year.
DISCLAIMER: Accord Fintech provides the Content on “AS IS” basis without any express or implied warranties. Accord Fintech does not warrant the accuracy, timeliness, completeness, adequacy, merchantability, or fitness for a particular purpose of the Content, and Accord Fintech shall not be liable to Licensee or to any third party with respect to any actual or alleged inaccuracy, untimeliness, incompleteness, inadequacy, unmerchantbailty or unfitness.
Copyright 2012 Accord Fintech Pvt. Ltd., distributed by Contify.com