Pudumjee Paper Products recorded 60% jump in net profit for FY 19-20; earned INR 27 Crores

Pudumjee Paper Products recorded 60% jump in net profit for FY 19-20; earned INR 27 Crores.

Pune | 16th June 2020 |The Pulp and Paper Times:

Pudumjee Paper Products Limited (PPPL) has reported encouraging results for the year ended 31st March, 2020 in spite of lockdown during last 10 days of the year.

During the year ended 31st March, 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).

Pudumjee 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.

Web Title: Pudumjee Paper Products recorded 60percent jump in net profit for FY 19 20 earned INR 27 Crores