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Paper mills' profit improves in June quarter

Capacity addition and moderating raw materials prices yield results

BILT's $500-mn deal to sell Malaysian arm falls through

Indian paper mills have reported a sharp increase in their profitability in the April-June 2016 quarter, indicating a turnaround in their fortunes after three years of low margins. Rising demand of writing and printing paper, coupled with a fall in raw material prices, helped boost margins of Indian paper mills. While net profit of Tamil Nadu Newsprint jumped 33 per cent to Rs 69.51 crore for the June’16 quarter, that of JK Paper shot up 79 per cent to Rs 26.66 crore. The June quarter net profit of Seshasayee Paper and International Paper surged 347 per cent and 91.53 per cent ...