Tamil Nadu Newsprint & Papers Limited — Important, 13-11-2024: General Updates

The Board of Directors of Tamil Nadu Newsprint and Papers Limited has approved the financial results for the quarter and half-year ending 30th September 2024. For Q2, total revenue was ₹927.87 Cr, a decline from ₹978.09 Cr year-over-year, with profit before tax falling to ₹5.05 Cr from ₹47.82 Cr in the prior year. Profit after tax also decreased to ₹2.59 Cr from ₹30.30 Cr. The drop in market prices for paper has impacted profits despite a reduction in key input costs.

For the half-year, total revenue stood at ₹2,057.71 Cr compared to ₹2,251.68 Cr the previous year. EBITDA for this period was ₹299.28 Cr, significantly lower than ₹501.51 Cr a year earlier. Profit before tax was reported at ₹39.10 Cr, down from ₹248.06 Cr, while profit after tax fell to ₹24.49 Cr from ₹158.96 Cr. Production volumes for both paper and packaging board saw marginal increases for the quarter, but total output remains below previous year's figures, indicating a challenging market environment.

The company has also appointed M/s. Maharaj N R Suresh & Co. LLP as statutory and tax auditors for FY 2024-25.