Tamil Nadu Newsprint & Papers net profit declined 66 per cent for Q4 FY11

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Tamil Nadu Newsprint & Papers net profit declined 66 per cen
Tamil Nadu Newsprint & Papers Ltd. has posted its results for the fiscal ending March 2011 on 27th May, 2011. Net profit during the quarter ending March 31, 2011 was reported at Rs. 19.55 crore as against the net profit of Rs. 58.24 crore reported during the corresponding period i.e. equivalent to 66.43 per cent decline. The decrease in profits was mainly due to 7.05 per cent rise in expenditure to Rs. 317.60 crore as compared to Rs. 296.69 crore in the corresponding period last year.

The increase in the total expenses for the quarter was on the back of rise in the raw material & chemical cost by 52.62 per cent to Rs. 86.90 crore in the March 2011 quarter from Rs. 56.94 crore in the corresponding last year quarter. Also increase in power, fuel & water charges by 129.23 per cent to Rs. 124.38 crore as compared to Rs. 54.26 crore in last year quarter, added to the expenditure.

Whereas, the net operating income remained almost flat at Rs. 353.16 crore; the same stood Rs. 355.63 crore in corresponding quarter of last year.

Considering the twelve month period from April - March 2011 into account, audited net profit increased by 16.34 per cent to Rs. 148.99 crore as against the value of Rs. 126.06 crore in the last financial year. This increase was recorded on account of increase in net operating income by 14.40 per cent to Rs. 1,222.51 crore from Rs. 1,068.66 crore in the last financial year.

Whereas, the expenditure of the company during this period stood at Rs. 1,015.81 crore, as compared to Rs. 877.56 crore in last year, i.e. a increase of 15.75 per cent. The rise in total expenses were mostly affected by 24.77 per cent rise in power, fuel & water charges to Rs. 305.53 crore from Rs. 244.88 crore in the corresponding last year.

The EPS (after Extraordinary item) of the company during the twelve months i.e. from April - March 2011, increased to Rs. 21.53 as against Rs. 18.21 in the year ago period of 2010.

The revenue generated by its segments Paper and Energy was Rs. 1,153.42 crore and Rs. 185.39 crore respectively in April - March 2011.

The company is expected to commissioned, 600 tons per day cement plant, by December 2011. The plant will convert the mill waste into high grade cement.

The Board of Directors of the Company at its meeting held on May 27, 201 has recommended a dividend of Rs. 5/- per share on the face value of Rs. 10/- for the financial year 2010-11.

Read more about: tnpl, bse, nse, result, paper industry
Story first published: Monday, May 30, 2011, 13:39 [IST]
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