Tamil Nadu Newsprint and Papers Ltd has reported a 44 per cent jump in net profit for the fourth quarter of 2014-15 against the corresponding quarter previously.
According to sources, the jump in net profit was achieved through a combination of growth in sales spurred by the demand in the academic segment, larger volume of production with capacity utilisation over 95 per cent and a stringent control on costs.
For the quarter ended March 31, 2015, the company reported a net profit of ₹69.34 crore (₹48.12 crore) on a total income of ₹ 703.07 crore (₹ 639.01 crore).
The company has recommended a dividend of ₹ 6 (60 per cent) a share of face value of ₹ 10 for the year.
For the year ended March 31, 2015, the net profit was ₹ 166.73 crore (₹ 161.18 crore) on a total revenue of ₹ 2,099 crore (₹ 2,242 crore).
The company will commission a two-lakh-tonne a year, multi-layer board production plant by December 2015.
This greenfield plant will add to its existing paper production capacity taking the total to over 6 lakh tonnes a year.
On the BSE, the company’s shares closed higher at ₹ 137 against the previous close of ₹ 135.
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