Financial Daily from THE HINDU group of publications
Wednesday, Jul 21, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jul 21, 2004 |
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Corporate Results
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Paper, Board & Newsprint TNPL net drops to Rs 1.49 cr Our Bureau
Chennai , July 20 TAMIL Nadu Newsprint and Papers Ltd (TNPL) has seen a steep fall in net profit for the quarter ended June 30, 2004, from the corresponding quarter last year. Net profit fell to Rs 1.49 crore from Rs 14.60 crore. There was, however, a small increase in sales — from Rs 130.39 crore in the first quarter of 2003-04 to Rs 130.50 crore in the first quarter of this year. The company has said that the impact of foreign exchange fluctuations on the amounts outstanding in assets and liabilities as on June 30, has not been considered and that it will be considered at the end of the year. If the impact arising of foreign exchange transactions is estimated for the full year and accounted on a proportionate bases for the quarter ended June 30, 2004, there will be reduction in the net results by Rs 3.17 crore.
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