Feb 02, 2009. /Lesprom.com/. Ballarpur Industries (BILT), India’s largest paper maker, has posted a 31.51% drop in consolidated net profit to Rs 50.07 crore ($10 million) for the 2Q ended December 31, 2008 as against Rs 73.11 crore (approx. $15 million) during the corresponding quarter a year ago, the company said in a statement received by Lesprom Network. Net sales during the quarter dipped 6.65% to Rs 646.31 crore (approx. $132 million) from Rs 692.4 crore (approx. $141 million) in the same period a year ago. The company’s profits were impacted due to drop in paper prices and sales was down due to slowdown in demand, as per a company statement which added that the demand will pick up in the next few months. Total paper production stood at 1,50,629 million tonne in the 2Q compared to 1,50,505 million tonne last year. BILT which follows a July-June financial year, reported 13.46% drop in consolidated net profit for the first half of fiscal 2009 to Rs 126.5 crore (approx. $26 million) from Rs 146.18 crore (approx. $30 million) in the same period the previous year. But net sales for the period increased 5.03% to Rs 1,418.1 crore (approx. $289 million) against Rs 1,350.1 crore (approx. $276 million). The company also announced that its Board of Directors have constituted a committee of directors to examine ways to enchance growth of the company s retail business and office supplies and stationery business. BILT is a part of the $3 billion Avantha Group and its subsidiaries include Sabah Forest Industries, Malaysia s largest pulp and paper company, and BILT Tree Tech, which runs BILT’s farm forestry programme in India.