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Tamil Nadu Newsprint and Paper Ltd has reported a 14 per cent drop in net profit for the first quarter this year, compared with the corresponding previous quarter.
The company reported a net profit of Rs 11.17 crore on net sales of Rs 329.66 crore for the quarter ended June 30. During the comparative previous period the company reported a Rs 12.82-crore profit on net sales of Rs 335.67 crore.
TNPL expects to commission its 300-tonnes-a-day de-inking and 600-tonnes-a-day mini-cement plant in September. The de-inking plant will augment its present pulp production capacity of 840 tonnes a day. There will be surplus pulp available for it to market. The line will add to the topline and bottomline, according to sources.
The paper manufacturer has received the Forest Management and Chain of Custody Certificate from the Forest Stewardship Council, an independent, global, non-profit organisation, which is a mark of responsible exploitation of wood. The certificate covers 19,561 hectares, the largest area certified by FSC in India.
TNPL can use the FSC label on all its products made from FSC-certified wood. This certificate is valid for five years, up to July 2017.
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