Paper & Paper Products company West Coast Paper Mills announced Q1FY24 results:
- Consolidated Q1FY24:
- Revenue of Rs 1,138.62 crore in Q1FY24 compared to Rs 1,357.48 crore in Q4FY23, down 16% QoQ
- EBIDTA of Rs 429.62 crore in Q1FY24 compared to Rs 518.20 crore in Q4FY23, down 17% QoQ
- PAT of Rs 278.35 crore in Q1FY24 compared to Rs 320.96 crore in Q4FY23, down 13% QoQ
- PAT Margin of 25% in Q1FY24 compared to 24% Q4FY23, up 1% QoQ
- EPS of Rs 37.17 in Q1FY24 compared to Rs 42.13 in Q4FY23, down 12% QoQ
- Standalone Q1FY24:
- Revenue of Rs 651.38 crore in Q1FY24 compared to Rs 766.72 crore in Q4FY23, down 15% QoQ
- EBIDTA of Rs 251.63 crore in Q1FY24 compared to rs 272.18 crore in Q4FY23, down 8% QoQ
- PAT of Rs 160.48 crore in Q1FY24 compared to Rs 166.02 crore in Q4FY23, down 3% QoQ
- PAT Margin of 25% in Q1FY24 compared to 22% in Q4FY23, up 3% QoQ
- EPS of Rs 24.30 in Q1FY24 compared to Rs 25.14 in Q4FY23, down 3% QoQ
Commenting on the results S.K. Bangur, Chairman & Managing Director, West Coast Paper Mills said, “The performance of the Company during the quarter under review was impacted due to declining market demand on account of the rise in paper imports. On the cost side, there was an increase in wood prices. However, we have positive expectations for better working in the latter half of the year.
We continue to focus on improved operational efficiencies with a better product mix. These initiatives will help for better financial performance down the line”