TNPL reports INR 31 Cr. loss due to weak demand in Q3; paper production dip

TNPL reports INR 31 Cr. loss due to weak demand in Q3; paper production dip

Chennai | 22nd February 2021 | The Pulp and Paper Times: The writing and Printing paper segment of Indian paper industry, which was one of the worst hit in the wake of the Covid-19 pandemic, is still to witness signs of revival on a month-on-month basis. 

Tamil Nadu Newsprint and Papers Limited (TNPL), an enterprise promoted by Government of Tamil Nadu, has been hit badly due to weak demand of W & P paper. TNPL reported Loss after Tax for the quarter ended 31st December, 2020 is Rs.31.60 Cr against the profit of Rs.29.51 Cr in the corresponding quarter of the previous year. 

“However, the actual impact of global health pandemic may be different from which has been estimated as on the date of approval of results and the company will continue to closely monitor any material changes to the future conditions,” said S. Sivashanmugaraja, Managing Director at TNPL in a statement.

Tamil Nadu Newsprint and Papers Ltd reported total revenue of Rs.588.40 Cr including Exceptional Income of Rs.18.65 Cr for the quarter ended 31st December, 2020 against Rs.850.10 Cr in the corresponding quarter of the previous year. The significant drop in revenue is due to impact of Covid-19 pandemic in the quarter ended 31% December 2020.

Paper production during the quarter ended 31st December, 2020 is 75005 MT against 114076 MT in the corresponding quarter of the previous year and Packaging Board production is 47259 MT against 45235 MT in the corresponding quarter of previous year.                                                     

Loss before tax for the quarter ended 31st  December 2020 is Rs.48.42 Cr against the profit of Rs.40.95 Cr in the corresponding quarter of the previous year. 

Total revenue for the Nine-months ended 31st December, 2020 is Rs.1696.73 Cr including Exceptional Income of Rs.18.65 Cr, against Rs.2594.62 Cr in the corresponding period of the previous year. 

Loss before tax for the Nine-months ended 31st  December, 2020 is Rs.93.69 Cr against the profit of Rs.188.65 Cr in the corresponding period of the previous year. 

Loss after Tax for the Nine-months ended 31st  December, 2020 is Rs.61.18 Cr against the profit of Rs.128.18 Cr in the corresponding period of the previous year. The company has provided Rs.175.25 Cr for depreciation & amortization and Rs. 148.54 Cr for finance charges for the Nine-months ended 31st  December, 2020.

Web Title: TNPL reports INR 31 Cr loss due to weak demand in Q3 paper production dip