Tamil Nadu Newsprint & Papers Ltd (TNPL) on Wednesday posted its highest ever annual revenue of ₹5,225 crore in FY23. The Chennai-based paper and paperboards manufacturer posted revenue of ₹4,069 crore in FY22.
Net profit for the full year swelled to ₹388 crore against ₹14 crore in FY22. Profit before tax stood at ₹603 crore (₹22 crore) in FY23.
The company said its printing & writing paper production was 420,793 mt against 388,881 mtin FY22. “The total sale of printing & writing paper in 2022-23 was 420,793 mt with the company recording zero stock of printing & writing paper as of March 31, 2023,” it added.
Better realisation
The company attributed the highest turnover and PAT to overall better realisation despite adverse impact of increased input cost. Total expenses went up to ₹4,623 crore (₹4,047 crore) in FY23.
On a quarterly basis, TNPL’s revenue from operations was up marginally at ₹1,440 crore (₹1,388 crore) during Q4. Net profit for the latest quarter stood at ₹103 crore (₹22 crore).
The company declared a dividend of ₹5 per share for r 2022-23. On Wednesday, shares of TNPL closed at ₹246 apiece, 1.24 per cent lower than the previous closing price.