TNPL Q1 profit doubles to Rs 52 cr

New Rs 1,500 crore plant will be ready by December 2015

Tamil Nadu Newsprint & Papers Limited (TNPL) has reported a 97 per cent growth in net profit during the quarter ended June 30, 2015 at Rs 51.64 crore as against Rs 26.23 crore.

The company attributed the performance to higher production, higher sales and savings in manufacturing cost.

The company's turnover rose to Rs 639.02 crore during the first quarter from Rs 479.01 crore, a year ago, up 33 per cent.

The company said its Rs 1,500 crore new double-coated multilayer board plant will be ready by December 2015 and will have a capacity of 200,000 tonne capacity per annum. The plant is coming at Mundipatti Village in Tiruch District.