Tamil Nadu Newsprint and Papers Ltd (TNPL) has reported a net profit of ₹60.40 crore for the quarter ended June 30, 2022, when compared with a net loss of ₹13.77 crore in the year-ago period, on the back of strong top-line growth.
The company’s profit before tax stood at ₹92.97 crore against a loss of ₹20.84 crore. Out of the PBT of ₹92.97 crore, the profit from the packaging board unit was ₹36 crore. It is for the first time the company has posted a profit in the packaging board unit, according to a statement.
Its total revenue grew by 76 per cent to ₹1136.61 crore for the June 2022 quarter when compared with ₹646.39 crore in June 2021 quarter.
Paper sales for the June 2022 quarter were at 98,813 MT against 68,704 MT in the corresponding quarter of the previous year. Packaging board sales stood at 44,082 MT against 39,368 MT in the year-ago quarter.