Sep 25, 2006. /Lesprom Network/. Ballarpur Industries (BILT) has recorded a net profit of INR 670 million ($14.6 million) for the quarter ended June 30, up 68% compared with INR 400 million ($8.7 million) for the same quarter last year. Total income (net of excise) increased to INR 5.3 billion ($115.6 million) from INR 4.8 billion ($104.7 million) in the quarter. Its sales of writing and printing paper increased to 110 000 tonnes against 97 500 tonnes in the same quarter last year. The quarterly results reflect the performance of the company after the merger of APR Packaging Ltd. Further, INR 120 million ($2.6 million) was added due to the sale of the power and real estate division of the company. Its net annual profit increased by 26.1% to INR 2.1 billion ($45.8 million) compared with INR 1.7 billion ($37.1 million) last year. Total income (net of excise) increased from INR 18 billion ($392.5 million) for the year ended June 30, 2005 to INR 19 billion ($414.3 million) for the year ended June 30, 2006. The company's board of directors has recommended a dividend of 27.5% which would result in a total payout of INR 510 million ($11.1 million). B Hariharan, finance director said the acquisition of Malaysia's Sabah Forest Industries would be completed by October. The company plans to invest about INR 11.5 billion ($250.8 million) over the next two years within India and outside to expand its capacity to around one million from the current 540 000 tonnes. It plans to raise the price of coated paper by INR 750 ($16.4) per tonne. In July, it had increased the price of coated paper and uncoated paper by INR 1 000 ($21.8) and INR 600 ($13.1) per tonne, respectively.