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TNPL net at Rs 14.31 cr

CHENNAI: Tamil Nadu Newsprint and Papers Ltd (TNPL) has posted a net profit of Rs 14.31 crore on net sales of Rs 133.10 crore for the quarter ended September 30, 2001, a 22 per cent drop in profit and a 10 per cent decline in sales over the same period l ast year.

For the July-September 2000 period, the company's net profit was Rs 18.38 crore on net sales of Rs 148.15 crore.

In the second quarter of this year, other income was Rs 6.83 crore (Rs 4.05 crore), total expenditure Rs 100.74 crore (Rs 108.53 crore), interest Rs 8.26 crore (Rs 11.48 crore), depreciation Rs 12.84 crore (Rs 12.11 crore), and provision for taxation -- current taxation Rs 1.39 crore (Rs 1.70 crore), deferred tax Rs 2.39 crore (nil).

For the half-year ended September 30, 2001 TNPL's net profit was Rs 27.18 crore on sales of Rs 261.20 crore against a net profit of Rs 30.48 crore on sales of Rs 277.12 crore for the same period last year.

According to a company press release, following the improved export performance, the Union Government has accorded trading house status to TNPL on October 11 effective from April 2001. -- Our Bureau