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Central Pulp posts higher net profit

Our Bureau

NEW DELHI, April 21

CENTRAL Pulp Mills Ltd (CPM), a J.K. group company, has announced a huge increase in its net profit for the nine months ended March 31, 2000. The net profit stood at Rs. 7.47 crores as against Rs. 1.12 crores in the corresponding period of the previous f iscal.

Sales turnover increased by 16 per cent at Rs. 102 crores and operating profit (PBDIT) by 48 per cent at Rs. 18.84 crores. Production went up by nine per cent.

In the third quarter ended March 31, 2000, CPM has recorded a net profit of Rs. 1.98 crores on a turnover of Rs. 33.78 crores. The PBDIT amounted to Rs. 5.76 crores.

The board of directors has recommended a maiden interim dividend of five per cent for the fiscal 1999-2000.

According to a company release, the successful turnaround in CPM was accomplished in the second year of its full operations, after take over of the company by the JK group. The company had wiped out all losses accumulated before takeover, it added.