Paper Products zooms on robust Q1 nos
Paper Products has zoomed 18% to Rs 67.20 after reporting net profit of Rs 14.52 crore for the quarter ended March 2011, compared to Rs 20 crore in the previous year's corresponding quarter.
The previous year net profit included a one-time gain of Rs 13.98 crore on transfer of its Nagpur property, comprising MIDC leasehold land and other assets of the Nagpur plant on 'as it is where it is basis'.
The company, engaged in packaging solutions, has reported a 25% jump in total operational income at Rs 201 crore from Rs 161 crore during the recently concluded quarter.
The stock opened at Rs 60.10 and hit a high of Rs 67.60 on the BSE. The trading volumes on the counter jump more than four-fold, with 256,000 shares changing hands so far as against an average 59,000 shares traded daily in the past two weeks.
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