The Hindu Business Line : TNPL Q4 higher at Rs 23.8 cr

TNPL has reported a net profit of Rs 23.83 crore on net sales turnover of Rs 180.07 crore for the fourth quarter ended March 2005, according to a company release.

During the corresponding previous period, the company reported a net profit of Rs 8.18 crore on net sales turnover of Rs 164.08 crore.

A large part of the jump in net profit for the quarter came from a deferred tax credit of Rs 9.30 crore (Rs 88 lakh).

The board has recommended a dividend of Rs 2.75 per share of Rs 10.

For the year ended March 2005, the company reported a net profit of Rs 37.95 crore (Rs 52.81 crore) on net sales turnover of Rs 671.28 crore (Rs 583.59 crore).

The profit was affected during the year because the paper machines were stopped for 58 machine days due to water shortage; dependence on pulp that had to be purchased following a shortage of bagasse, sugarcane fibre, its primary raw material; and increase in input costs.

However, the company produced 1.96 lakh tonnes of paper (1.82 lakh tonnes).

It produced about 29,032 tonnes of copier paper, which was 50 per cent more than the previous year's production.

TNPL plans to set up a new cut paper line with a capacity of 200 tonnes a day to increase production.

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