TN Newsprint Q3 net up marginally
Company reports Rs 38 cr profit; manages to maintain profit largely through reducing the cost of production
BS Reporter Chennai Tamil Nadu Newsprint & Papers Ltd reported a net profit of Rs 37.66 crore during the quarter ended December 31, 2014, as compared with Rs 36.89 crore a year ago. Total revenues dropped to Rs 477.20 crore from Rs 596.75 crore. Despite drop in sales and prices, the company managed to maintain profit largely through reducing the cost of production.
The company is hopeful sales would be better during Q4 on the back of demand from notebook manufacturers and textbook publishing segment.
On the Rs 1,500-crore multilayer board plant in Tiruchy, it said project works were in progress and was expected to be completed by December 2015. The company is setting up a 200,000-mt capacity multilayer board plant.
