Ballarpur Industries’ Q1 net profit tumbles 81%

Ballarpur Industries has reported unaudited results for the first quarter ended June 30, 2011.

The company’s net profit for the quarter ended June 30, 2011 fell by 80.89% at Rs 2.05 crore as compared to Rs 10.73 crore for the corresponding quarter last year. Its net sales decreased by 12.18% at Rs 237.33 crore for the quarter under review from Rs 270.26 crore for the same quarter last year.

Ballarpur Industries has recommended payment of dividend of 30% on the equity shares of the company i.e. Rs 0.60 per equity share of Rs 2 each.