Tamil Nadu Newsprint and Papers Ltd (TNPL) reported a significant increase in its net profit at Rs 22 crore for the quarter ended September 30, 2019 when compared with Rs 7 crore in the year-ago period, aided by lower expenses despite a fall in revenues.
The company’s profit before exceptional items and tax stood at Rs 33 crore as against Rs10 crore.
The total revenue of the company fell to Rs 784 crore when compared with Rs1014 crore.
The paper production during the September 2019 quarter was 108,752 tonnes against 106,749 tonnes in the corresponding quarter in the previous year. Packaging Board production was 42,516 tonnes as against 47,487 tones.
For the half-year ended September 30, 2019, profit after tax of the company increased to Rs 99 crore when compared with Rs 31 crore in the same period the previous year.
Its profit before exceptional items and tax stood at Rs 148 crore as against Rs 49 crore.
The total revenue was lower at Rs 1745 crore as against Rs 1949 crore in the year-ago period.