For the first time in 10 years, Bhutan Board Products Ltd. (BBPL) is in the red. The country's premier wood-based company incurred a net loss of Nu 8.45 million in the first six months this year, in sharp contrast to a profit of Nu 13.98 million during the same period last year.The main reason for the dip in production was the royal government's new timber policy which became effective from January this year, company sources told Kuensel.