Tamil Nadu Newsprint and Papers Ltd., has announced a turnover of Rs.744.84 crore for the quarter ended June 30, 2016, while the turnover was Rs.639.02 crore for the corresponding quarter of a year-ago. This marks an increase of 17%. As the company reported the surge in the volume, TNPL share price, and share volume also soared high.
During the period under review, the profit before tax stood at Rs.77.69 crore against Rs.66.38 crore in the same quarter last fiscal. Profit after tax at Rs.69.51 crore saw a 33 %growth over the equivalent period last year at Rs.52.25 crore. Printing and writing paper production during the quarter was 95,956 MT and sales were 1,16,003 MT. The production of paper boards is being increased as the company sees good demand for the product.
TNPL has reported 33 % growth in net profit for the first quarter of this year in comparison to the corresponding quarter of the previous year. The company reported the net profit of Rs. 69.51 crore against Rs. 52.25 crore of corresponding quarter last fiscal and the total income of Rs.756.42 crore against Rs. 647.63 crore in the same quarter last year.
Total expenses were up at Rs. 622.86 crores with an increase in power, fuel and water charges at Rs. 125.43 crores; materials consumed were valued at Rs. 225.65 crores and the employee benefits expenses growing to Rs. 63.29 crore. The company has produced 24,584 tonnes of paper board, and production is gradually growing up.
TNPL share price opened with a great rise of over 4.5% and by 10:00 A.M the stock was trading at Rs. 294.20 with a rise of 3.99%. The volume also went up 1.5 times. Dynamic Levels have recognized TNPL among the top 500 performers because of its strong fundamentals. For more details on TNPL, refer to the Ladder on the TNPL share price history page of the website.
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