Ruchira Papers Q2 net profit up 12%

 

Ruchira Papers, manufacturer of Kraft Paper, and Writing & Printing Paper today declared its financial results for the second quarter and half year ended September 30, 2017.

The company reported Net Profit of Rs. 8.39 crore for Q2FY18, up by 11.87%, as compared to Rs. 7.50 crore in the corresponding quarter of last fiscal. The company’s PAT margin increased to 8.07% in Q2FY18 from 7.06% in Q2FY17.

Total Revenue for the quarter ended September 30, 2017 stood at Rs. 104.02 crore, as compared to Rs. 106.21 crore in the same period last year. The company’s EBITDA margin improved from 15.18% in Q2FY17 to 15.43% in Q2FY18.

Earnings per share (EPS) for Q2FY18 stood at Rs. 3.74, as compared with Rs. 3.34 for the quarter ended September 30, 2017.

For the quarter under review, the production of the Company for Kraft Paper unit was 17988.823 MT as compared to 16415.48 MT in Corresponding quarter last year. The production of Writing and Printing paper was 9570.308 MT as compared to 12632.119 MT in the corresponding quarter last year. During the quarter, the company has undertaken overhauling of its Co-generation plant, which resulted in lesser production equivalent to 18 days of Writing & Printing Paper unit.

For the half year period ended September 30, 2017, Ruchira’s net profit jumped by 37.11% to Rs. 20.21 crore, as compared to Rs. 14.74 crore of the first half of FY 17. The company’s PAT margin improved from 7.20% in H1FY17 to 8.95% in H1FY18.

Total Income for H1FY18 stood at Rs. 225.77 crore, up by 10.26%, as compared to Rs. 204.77 crore during H1FY17. Ruchira’s EBITDA in H1FY18 stood at Rs. 38.55 crore, up by 21.34%, as compared to Rs. 31.77 crore during H1FY17.

For H1FY18, EPS stood at Rs. 9.01 as against Rs. 6.57 in H1FY17

Jatinder Singh, Chairman & Whole Time Director, Ruchira Papers Limited, said, it was a good performance considering the fact that GST was rolled out at the beginning of this quarter and company undertook overhauling of its power co-generation Plant, which lasted about 18 days affecting overall performance. But without this event our performance would have been in line with the previous quarter performance. However we are quite confident of meeting the year end targets for the performance of the Company.