West Coast Paper shares fall 6% after profit halves even as revenue inches up

Shares of West Coast Paper Mills Ltd. dipped over 6% after the company reported mixed performance for the third quarter with profitability under pressure despite a slight rise in revenue.

Net profit declined 58% year-on-year to ₹27 crore, compared with ₹64.2 crore in the corresponding quarter last year.

Revenue rose 3.3% to ₹1,049.8 crore from ₹1,016 crore a year ago.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) fell 7% to ₹77 crore from ₹83 crore in the year-ago period. EBITDA margin

narrowed to 7.3% from 8.1%, marking a contraction of 80 basis points year-on-year.

Headquartered in Kolkata, West Coast Paper Mills is one of the oldest paper producers that makes printing, writing and packaging paper along with boards and specialty grades for customers in India and overseas.

Shares of the company settled at ₹427.90 apiece on the NSE, down 6.44% for the day.

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