Ballarpur Industries net at Rs 59 crore

Paper manufacturer Ballarpur Industries today reported a consolidated net profit of Rs 58.91 crore for the quarter ended December 31, 2010.

The company had a net profit of Rs 53.51 crore in the same period previous financial year, Ballarpur Industries said in a filing to the Bombay Stock Exchange.

“The company had redeemed zero coupon convertible bonds of $52 million on July 12, 2010. Consequently, basic and diluted EPS for the current quarter is not comparable with the corresponding quarter of previous year,” it added.

The company’s net sales stood at Rs 1,126.90 crore for the quarter ended December 31, 2010, while the same was Rs 879.82 crore in the same period previous financial year.