West Coast Paper Mills surged 4.34% to Rs 493 after the company said that the strike of contract workers was called off and production at the paper and paper board division at Dandeli has been re-started.
Earlier, on Wednesday, 22 February 2023, the company reported that production at the paper and paper board division at Dandeli had been disrupted due to illegal strike of contract workers called by Joint Negotiation Committee of Trade Unions for unreasonable demands.The company stated that there has been marginal production loss due to disruption of plant operations.
However, required preventive maintenance work in the plant has been carried out during that period, added the paper manufacturer.
West Coast Paper Mills, part of Bangur group, is one of the leading player in the Indian Paper Industry.
The company's consolidated net profit jumped 237.9% to Rs 263.74 crore on 42.1% rise in net sales to Rs 1,239.16 crore in Q3 FY23 over Q3 FY22.
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