Avarga Limited, formerly known as UPP Holdings Limited, has reported record net earnings of $29.2 million for Taiga Building Products for the 1QFY2021 ended March, over four times net earnings of $6.6 million over the corresponding period the year before.

Taiga Building Products is one of three core businesses under Avarga. The other two businesses are paper manufacturing and power generation.

Taiga’s higher earnings were primarily attributable to the increased gross margin, which increased almost three times to $90.4 million during the quarter from $30.6 million in the 1QFY2020.

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