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Thursday, Aug 01, 2002

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Corporate Results - Paper, Board & Newsprint

TNPL sales, net rise

Our Bureau

CHENNAI, July 31

TAMIL Nadu Newsprint and Papers Ltd has posted a 56 per cent jump in net profit and eight per cent increase in sales turnover for the first quarter ended June 30, 2002 when compared to the corresponding quarter last year.

Net profit was Rs 12.24 crore on sales of Rs 140.46 crore as against a net profit of Rs 7.87 crore on sales of Rs 130.27 crore the pevious year.

According to a company press release, capacity utilisation was 105.83 per cent (101 per cent).

Export sales accounted for 5,438 tonnes worth Rs 15.29 crore during this period as against 3,056 tonnes worth Rs 9.39 crore during the corresponding quarter of the previous year. TNPL has targeted export sales of 36,000 tonnes during the year with a free-on-board value of Rs 100 crore as against 27,780 tonnes in the previous year with a FOB value of Rs 73.37 crore.

The release said TNPL had short-closed working capital demand loan amounting to Rs 31.28 crore during April-June 2002 and Rs 6.16 crore during July 2002.

During the quarter ended June 30, the company exported 268.18 lakh KwH of power to TNEB grid.

The upgrade of Paper Machine II to speed up operations and increase production would be completed by September, while the upgrade of Paper Machine I would be completed by November.

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