Tamil Nadu Newsprint and Papers posted a good set of numbers for Q1FY16. Higher production, higher sales and efficiency in manufacturing has helped the company end the quarter with a net profit of Rs.52 crore, doubling up from Rs.26 crore. This was on a 33% (YoY) rise in net sales at Rs.639 crore. Costs were up 31%.

EBITDA for the quarter was up 29% at Rs.136 crore and but EBITDA margin was marginally lower from 21.92% to 21.28%. The company has three segments – paper, energy and cement. Paper showed a 34% rise in revenue with EBIT margin rising from 15.36% to 16.91%. Energy showed a 3% rise in revenue and EBIT showed the maximum improvement – up from 0.15% to 3.53%. Cement also did well, with a 29% rise in revenue and EBIT margin rose more than three times from 5.8% to 16.9%.  The company is setting up a 2 lakh MT capacity double coated multilayer board plant at an outlay of Rs.1500 crore and this project is expected to be completed by Dec 2015.