Financial Daily from THE HINDU group of publications
Tuesday, Oct 18, 2005
Financial Daily from THE HINDU group of publications Tuesday, Oct 18, 2005 |
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Corporate Results
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Paper, Board & Newsprint TNPL posts Rs 18-cr net in second quarter — Declares 15 pc interim Our Bureau
Chennai , Oct. 17 TAMIL Nadu Newsprint and Papers Ltd (TNPL) has reported a 100 per cent jump in net profits for the quarter ended September 30, 2005, and announced a maiden interim dividend of Rs 1.50 (15 per cent) on an equity share of Rs 10. The company has reported a net profit of Rs 18.15 crore on net sales turnover of Rs 203.09 crore for the quarter ended September 30, 2005. During the same quarter last year, the company reported a net profit of Rs 9.15 crore on a net sales turnover of Rs 180.06 crore. TNPL attributed the increase in net profit to higher production — 57,179 tonnes (54,396 tonnes) during the quarter — and a higher sales realisation. It has launched a Rs 30-crore expansion programme at its wind farm and placed orders with Suzlon Energy to add 6.25 MW to takes its wind power generation capacity to 28 MW by January 2006. The company treats the wind farm as a profit centre with its entire generation fed to the State grid. The company is continuously expanding its generation capacity. It now has a 21.75-MW wind farm at Devarkulam and Muppandal in southern Tamil Nadu. In 2004-05, it generated Rs 1.94 crore profit. TNPL has launched its Rs 565-crore Mill Development Plan to expand its pulping capacity and shift to a more environmentally friendly Elemental Chlorine Free pulp production. The project, targeted for completion by March 2007, will increase its pulp production capacity to 800 tonnes a day from 520 tonnes. The benefit will include a significant reduction in its variable costs and its competitive edge would be honed and margins would improve. Also its production would go up by 15,000 tonnes on its current capacity of 2.30 lakh tonnes a year.
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