TN Newsprint net up 17%

Total income during the period was up 10.41% to Rs 639.01 cr from Rs 578.73 cr in the same period previous fiscal

Tamil Nadu Newsprint & Papers Ltd reported a net profit of Rs 48.12 crore during the quarter ended March 31, 2014, as compared with Rs 41.12 crore, a year ago, up 17 per cent.

Total income during the period was up 10.41 per cent to Rs 639.01 crore from Rs 578.73 crore in the same period previous fiscal.

The company also said its new double coated multilayer board plant, which is being set up in Trichy district with an investment of around Rs 1,500 crore, would be ready by Dec 2015. The plant will have a capacity of 200,000 tonne and is coming at Mundipatti village in Manapari.

TNPL shares on Friday ended at Rs 143.90, down 2.11 per cent from the previous day's closing of Rs147 on the BSE.