Notwithstanding the economic slowdown, the Kochi-based Sree Sakthi Paper Mills Ltd managed to register a 7.3 per cent growth in sales during the quarter ended December 31.
The kraft paper manufacturer produced 18,666 tonne during the lean quarter (as compared to 18,526 tonne in the corresponding quarter of the previous year) and clocked a net turnover of Rs 47.40 crore for the three-month period as against Rs 44.25 crore in the corresponding period of 2010 . The average net sales realization this year was higher by 7.9 per cent.
After taking into account a foreign exchange fluctuation loss of Rs 71 lakh, the company made a profit of Rs 119.46 lakh. But for the forex fluctuation, the operating profit would have been higher by 11 per cent.
The company's boiler project is slated to be completed before the end of the current fiscal. With the economy showing some signs of improvement, the benefits of recent modernisation-cum-expansion should be felt in the coming quarters, a company statement issued here said.