Business

TN Newsprint Q3 profit slumps

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.

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Printable version | Feb 25, 2020 5:28:29 AM | https://www.thehindu.com/business/tn-newsprint-q3-profit-slumps/article30813208.ece

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