Financial Daily from THE HINDU group of publications
Saturday, Feb 01, 2003
Financial Daily from THE HINDU group of publications Saturday, Feb 01, 2003 |
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Corporate Results
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Paper, Board & Newsprint Corporate - Financial Performance Drop in sales turnover hits TNPL net Our Bureau
CHENNAI, Jan. 31 THE Tamil Nadu Newsprint and Papers Ltd (TNPL) has posted a lower net profit of Rs 3.02 crore on a reduced sales turnover of Rs 106.04 crore for the quarter ended December 31, 2002, against a net profit of Rs 3.97 crore on a sales turnover of Rs 143.41 crore for the corresponding period last year. The company attributed the drop in turnover and profit to the loss of production in the quarter due to shut down of paper machines for rebuilding purpose, for a total of 44 machine days. The production during the quarter was 29,810 tonnes against 44,936 tonnes during the corresponding period last year. The production has improved in January and full capacity is likely to be achieved from March, according to a TNPL release. For the nine months ended December 31, 2002, TNPL's net profit was Rs 30.55 crore on sales of Rs 384.86 crore compared to a profit of Rs 21.18 crore on sales of Rs 409.83 crore for the corresponding period last year.
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