Pudumjee Paper Products Year Ended Profit Up by 60%

PUNE, 12^th JUNE, 2020 (TGN):
Pudumjee Paper Products Limited (PPPL) has reported encouraging results for the year ended 31^st March, 2020 in spite of lockdown during last 10 days of the year.

During the year ended 31^st 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 31^stMarch, 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 12^th 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. ENDS