Financial Daily from THE HINDU group of publications
Saturday, May 29, 2004
Financial Daily from THE HINDU group of publications Saturday, May 29, 2004 |
||
|
|
||
|
Corporate Results
-
Paper, Board & Newsprint Higher input costs blot TNPL net Our Bureau
Chennai , May 28 THE net profit of Tamil Nadu Newsprint and Papers Ltd has dropped to Rs 8.18 crore on net sales of Rs 164.08 crore in the quarter ended March 31, 2004 against a net profit of Rs 21.49 crore on sales of Rs 155.01 crore recorded in the same period the previous year. The company's board of has declared a dividend of Rs 2.75 (27.50 per cent) a share of Rs 10 for 2003-04. Company officials attributed the drop in net profit to the increase in cost of inputs, including coal, power and water charges. These have contributed to an increase in expenditure to Rs 144.96 crore (Rs 119.43 crore). Also, provision for depreciation pertaining to prior period items has been made during this quarter. For the year ended March 31, 2004, the company has reported a net profit of Rs 52.85 crore on net sales of Rs 583.59 crore against the previous year's net profit of Rs 52.04 crore on net sales of Rs 539.87 crore. The company has been able to shore up its performance during 2003-04 despite the loss of about 11,000 tonnes of production due to water shortage. The market for printing and writing paper is holding firm and newsprint prices are set to increase. The printing and writing paper prices are appreciating in the international market and Indian manufacturers have been able to hike cost of export products. However, the domestic market is not reflecting the trend and prices are not yet bullish, sources said. TNPL exported 30,098 tonnes of printing and writing paper (25,871 tonnes) and is confident of increasing exports to 36,000 tonnes in the current year, officials said.
More Stories on : Paper | rd & Newsprint
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|