Tamil Nadu Newsprint and Papers Ltd has reported its highest-ever turnover, EBITDA, PBT and PAT since inception (in 1984) in Q2 FY23, supported by the overall better realisation and improved volume despite the adverse impact of higher input cost.
Its net profit zoomed to ₹112 crore compared with a net profit of ₹5 crore in the year-ago quarter. This was due to better price realisation and increased volume of sales consequent upon new capacities commissioned.
The company’s total revenue grew 47 per cent to ₹1,388 crore (₹942 crore). Though total expenses shot up to ₹1,215 crore (₹935 crore), EBITDA stood at ₹283 crore, up 169 per cent y-o-y. Profit before tax came in at ₹173 crore (₹7 crore).
“TNPL has commissioned the commercial operation of phase 1 of Mill Expansion Plan (MEP-Unit 2 Board Plant) comprising installation of pulp mill, chemical recovery facility, augmentation of captive power plant and waste water treatment plant and accordingly the revenue from the MEP-phase 1 has been considered during the quarter,” said a statement.
Paper sales for Q2 stood at 102,376 mt against 89,910 mt in Q2 FY22. Packaging board sales were at 46,612 mt (50,637 mt).
For H1 FY23, the company posted a net profit of ₹172 crore as against a net loss of ₹9 crore in H1 FY22. Total revenue stood at ₹2,524 crore (₹1,588 crore).