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Last Updated : Dec 06, 2016 11:02 AM IST | Source: PTI

Ballarpur Industries swings to Rs 524 cr Q2 net loss

The company, which makes writing and printing paper, had posted a net profit of Rs 30.8 crore in the same period of the previous fiscal.

 
 
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Avantha group firm Ballarpur Industries today reported consolidated net loss of Rs 523.57 crore for the second quarter ended September.


The company, which makes writing and printing paper, had posted a net profit of Rs 30.8 crore in the same period of the previous fiscal.


Total income from operations fell 56.56 percent to Rs 461.76 crore, from Rs 1,063.11 crore in the year-ago period, Ballarpur Industries Ltd (BILT) said in a BSE filing.

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During the quarter, the company reported exceptional expense of Rs 201 crore on account of impairment of assets due to shutdown of its rayon grade pulp manufacturing unit at Kamalapuram in Andhra Pradesh.


The stock was trading flat at Rs 15.70 on BSE in the morning trade.



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First Published on Dec 6, 2016 10:54 am
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