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.
You have reached your limit for free articles this month.
Register to The Hindu for free and get unlimited access for 30 days.
Subscription Benefits Include
Today's Paper
Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Personalised recommendations
A select list of articles that match your interests and tastes.
Faster pages
Move smoothly between articles as our pages load instantly.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Briefing
We brief you on the latest and most important developments, three times a day.
Not convinced? Know why you should pay for news.
*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.