Net Loss of Ballarpur Industries reported to Rs 889.50 crore in the quarter ended March 2018 as against net loss of Rs 719.71 crore during the previous quarter ended March 2017. Sales rose 102.54% to Rs 728.23 crore in the quarter ended March 2018 as against Rs 359.55 crore during the previous quarter ended March 2017.

For the full year,net loss reported to Rs 2035.60 crore in the year ended March 2018 as against net loss of Rs 2071.12 crore during the previous year ended March 2017. Sales rose 23.06% to Rs 2477.25 crore in the year ended March 2018 as against Rs 2012.98 crore during the previous year ended March 2017.

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Net Loss of Ballarpur Industries reported to Rs 65.90 crore in the quarter ended March 2018 as against net loss of Rs 141.57 crore during the previous quarter ended March 2017. Sales rose 40.45% to Rs 108.40 crore in the quarter ended March 2018 as against Rs 77.18 crore during the previous quarter ended March 2017.

For the full year,net loss reported to Rs 311.09 crore in the year ended March 2018 as against net loss of Rs 679.84 crore during the previous year ended March 2017. Sales rose 40.57% to Rs 298.89 crore in the year ended March 2018 as against Rs 212.62 crore during the previous year ended March 2017.

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Ballarpur Industries will hold a meeting of the Board of Directors of the Company on 22 May 2018.

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The announcement was made after market hours yesterday, 5 April 2018.

Meanwhile, the S&P BSE Sensex was down 22.50 points, or 0.07% to 33,574.30.

On the BSE, 8.81 lakh shares were traded in the counter so far compared with average daily volumes of 4.18 lakh shares in the past two weeks. The stock had hit a high of Rs 15.65 and a low of Rs 14.55 so far during the day. The stock hit a 52-week high of Rs 22.70 on 15 May 2017. The stock hit a 52-week low of Rs 11.30 on 5 October 2017.

Ballarpur Industries announced that a sale and purchase agreement has been entered into between Sabah Forest Industries Sdn. Bhd. and Pelangi Prestasi Sdn. Bhd. (the buyer) on 4 April 2018 for the sale of entire assets (including procurement of fresh timber licenses from the State Government of Sabah) of Sabah Forest Industries Sdn. Bhd. (a step down subsidiary of Ballarpur Industries), for consideration of RM 1.2 billion (approximately $310 million). The buyer has deposited 10% of the consideration in cash.

The said agreement is subject to necessary corporate and regulatory approvals, including appropriate court orders of the High Court of Sabah & Sarawak, Malaysia.

The buyer is a part of Albukhary Group of companies, Malaysia promoted by SyedMokhtar Albukhar.

On a consolidated basis, Ballarpur Industries reported net loss of Rs 363.95 crore in Q3 December 2017 as against net loss of Rs 435 crore in Q3 December 2016. Net sales rose 111.47% to Rs 699.79 crore in Q3 December 2017 over Q3 December 2016.

Ballarpur Industries is India's largest manufacturer of writing and printing paper.

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