State-run Tamil Nadu Newsprint and Paper Limited (TNPL) had dropped 25 per cent to Rs 21.25 crore during the third quarter ended December 31, 2008 as compared to Rs 28.48 crore during the same period last year.
The company had reported the net profit after providing Rs 25.77 crore towards depreciation and Rs 18.54 crore towards interest and finance charges and Rs 10.11 crore for taxes.
Company's total income rose to Rs 247.88 crore during the third quarter from Rs 243.79 crore. Turnover increased to Rs 242.93 crore from Rs 235.14 crore, a year ago. Other income rose to Rs 1.14 crore from Rs 0.26 crore.
Meanwhile, TNPL is planning to double the capacity to 400,000 MTs per annum by adding a new paper machine. The additional capacity will be available from June 2010.
The company had also bagged the IPMA Paper Mill award for the year 2007-08 for second time.
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