PUDUMJEE PAPER PRODUCTS POSTS 146% PROFIT SURGE IN Q1
Pune, 02 August 2024 (GMI): Pudumjee Paper Products Ltd., announced a 146% Year-On-Year increase in the Profit Before Tax to Rs. 3,704 lacs for the first quarter ended 30 June, 2024. This was driven by lower raw material costs, better price realization and focus on value-added products.
The Company’s revenue for the quarter rose by 12% (Y-O-Y) to Rs. 20,284 lacs, while EBIDTA increased by 110% to Rs. 4,102 lacs. Pudumjee Paper Products achieved a return on capital employed of 27% as compared to 14% in the corresponding period last year. The Company’s cash and cash equivalent balance stood at Rs. 20,587 lacs as of
30 June 2024, as against Rs. 9,022 lacs in the corresponding period last year.
The Company is focusing on the manufacturing of various biodegradable and compostable specialty papers with barrier properties. These papers find applications in various sectors such as food packaging, pharmaceuticals, hospital supplies and hygiene products, which are witnessing high growth in demand.ends GNI
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