Tamil Nadu Newsprint and Papers Ltd. standalone net profit for the third quarter ended December 2019 slipped 40.61% to ₹29.51 crore on lower sales volume due to sluggish market conditions and cheaper imports.
During the period under review, TNPL reported a total revenue of ₹850.10 crore, a dip of 23.65% from the corresponding year-ago period.
Total revenue for the nine months ended December 2019 was ₹2,594.62 crore (₹3,062.76 crore). Profit before tax stood at ₹188.65 crore (₹128.24 crore).
Though the sales volume was lower during the nine-month period, various measures taken by the company to contain raw material and fuel cost resulted in a higher net profit after tax of ₹128.18 crore (up 58%), the company said in a regulatory filing.
Paper production during the quarter was 1,14,076 MT (1,13,526 MT) whereas packaging board production was 45,235 MT against 47,489 MT.
