Paper Products Flies After Q1 Performance
Paper Products on Thursday touched a 52-week high on impressive Q1 performance. The stock hit its 10 per cent upper limit for the second day today. The scrip ended at Rs 91.40 on the Bombay Stock Exchange, with over 22,500 shares changing hands.
On the NSE, it was up 10.05 per cent at Rs 92, with volumes of 27,327 shares. For the quarter ended March 31, 2002, the company posted a 233 per cent rise in net profit to Rs 5.86 crore, compared with Rs 1.76 crore in the corresponding period of the previous year. Net sales rose 21.5 per cent to Rs 83.24 crore from Rs 68.48 crore in corresponding quarter last year.
Paper Products was the first to introduce flexible packaging in the country and currently enjoys a market share of around 65 per cent. The company