Kochi-based kraft paper company Sree Sakthi Paper Mills Ltd has registered a quantum jump in profit in the fourth quarter of fiscal 2011. The company's gross sales grew 31 per cent to Rs 53.56 crore in the fourth quarter from Rs 40.76 crore compared to the year-ago period. Its bottom line vaulted 56 per cent to Rs1.99 crore from Rs 1.28 crore . The leap in profit was largely attributed to the company's modernisation, a press release said.

For the full year, the company registered 31per cent growth in gross sales to Rs 190.82 crore from Rs 145.86 crore , and 51 per cent rise in net profit to Rs 7.01 crore from Rs 4.64 crore. The company produced 77,315 tonnes of paper in financial year 2011, an increase of 7.5 per cent as compared to 71,926 tonnes in the previous year. The board has recommended a higher dividend of 21 per cent (including interim dividend of 8 per cent) as against last year's 18 per cent. This gives more than 7 per cent yield on the current market price.

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