Financial Daily from THE HINDU group of publications
Tuesday, Jan 18, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 18, 2005 |
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Corporate Results
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Paper, Board & Newsprint TNPL net dips Our Bureau
CHENNAI: TAMIL Nadu Newsprint and Papers Ltd has reported a net profit of Rs 3.49 crore on a turnover of Rs 180.64 crore for the quarter ended December 31, 2004. During the corresponding period in the previous year the company reported a net profit of Rs 16.46 crore on a turnover of Rs 159.49 crore. The drop in net profit is attributed to the spiralling costs of inputs and raw material shortage. It produced 50,724 tonne (46,749 tonne) of paper with capacity utilisation at 87 per cent (84 per cent). The profit was hit by increase in cost of coal and other inputs, and the shortage of bagasse following two years of drought, which hit sugarcane planting. All these contributed to an increase in cost of production. However, with the sugar season commencing, bagasse arrivals have started from December 2004.
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