Tamil Nadu Newsprint and Papers Ltd (TNPL) has more than doubled its net profit at ₹129 crore for the quarter ended June 30, 2023, when compared with a net profit of ₹60 crore in the year-ago period, helped by improved margins.
The company’s EBITDA grew 84 per cent to ₹325 crore for the quarter ended June 30, 2023, against ₹176 crore in the year-ago quarter. The company’s profit before tax stood at ₹200 crore against ₹93 crore, according to a statement.
June 2023 quarter’s EBITDA, PBT, and PAT are the highest-ever numbers achieved by the company since its inception.
Its total income grew 12 per cent to ₹1,273 crore for the June 2023 quarter when compared with ₹1,136 crore in June 2022 quarter. Total expenses stood at ₹1,073 crore (₹1,043 crore.)
Paper production for the June 2023 quarter was at 105,499 mt against 106,584 mt in the corresponding quarter of the previous year. Packaging board production stood at 47,704 mt against 45,012 mt in the year-ago quarter.