ITC PSPD reports Rs. 323 Cr PBT in Q4; Domestic and export demand uptick the revenue

ITC PSPD reports Rs. 323 Cr PBT in Q4; Domestic and export demand uptick the revenue

SECUNDERABAD | 1st June 2021 | The Pulp and Paper Times: 

Cigarette-to-hotel conglomerate ITC’s Paperboards, paper & packaging division on Tuesday reported Profit before Tax (PBT) of Rs 323 crore for the fourth quarter ended March 31, 2021 (Q4FY21), up 13.1 percent from Rs 286 crore clocked in the corresponding quarter a year earlier (Q4FY20).

In the financial report of ITC for FY 20-21, Company accepts that strong recovery in domestic demand and robust growth in exports are the key drivers behind the strong sequential recovery momentum. Higher offtake across most end-user segments barring Publications, Notebooks & Wedding cards and Strong growth in Specialty papers like Pharma & Décor segments keep the growth figures uptick.

ITC- PSPD has successfully commissioned the paper machine rebuild project at Bhadrachalam in March’21. Steady progress in High-Pressure Recovery Boiler project despite Covid disruptions – pulp mill capacity expansion (import substitution), reduced Carbon footprint, operational efficiencies reported by the mill.

Higher volumes in Paperboards and higher cartons exports in Packaging business coupled with operating efficiencies witness the ITC-PSPD growth in FY2020-21.

ITC PSPD reported 13.5% YoY increase in paperboard, paper & packaging segment revenues for FY2021 at INR 1656 crore compared to total segment revenues in FY2020 at INR 1459 crore.

Web Title: ITC PSPD reports Rs 323 Cr PBT in Q4 Domestic and export demand uptick the revenue