Mumbai: Camlin Limited, pioneers and leaders in stationery and art materials in India, and now with additional focus on pharmaceuticals and fine chemicals, have reported good performance in the 3rd quarter ended 31st December 2002, consistent with the trend in the current year, a press release said.

Turnover for the nine months from April to December 2002 was Rs 15164.09 lakhs representing a growth of 5.54% as compared to the corresponding period of the previous year. Profit before tax was Rs 1003.29 lakhs as against Rs 301.34 lakhs for the corresponding period ended 31st December of the previous year. The growth in exports by 29.59% has also contributed towards profitability. After providing for taxes (current as well as deferred), interest, depreciation and VRS (Voluntary Retirement Scheme) cost, the company has made a net profit of Rs 695.29 lakhs as compared to Rs 262.34 lakhs in the corresponding period last year, registering a growth of 165.03%, the release said.

Turnover for the 3rd quarter, October to December 2002, was Rs 4215.37 lakhs representing a growth of 2.57 % as compared to the corresponding period of the previous year. Net profit for the 3rd quarter was Rs 166.28 lakhs, giving an increase of 915.14 % over the same period last year.

The augmentation of profit has also been possible due to cost control measures, operational restructuring and rationalisation carried out by the company. The overall increase in profits is also due to steps undertaken in the areas of strong control over inventory, substantial reduction in debtors and savings in finance cost, the release said.

Going by the positive trend reported in the first nine months, the company is confident of closing the financial year with an excellent overall performance over the previous year, the release added.