Manali Petro Q2 net dips 8% on cheaper imports, input cost rise

November 07, 2023 09:22 pm | Updated 09:46 pm IST - CHENNAI

Manali Petrochemicals Ltd.’s (MPL) consolidated net profit for the September quarter declined 8.33% to ₹11 crore from ₹12 crore in the year-earlier period due to dumping of imported materials at cheaper prices and increase in raw materials cost.

Revenue from operations declined to ₹270 crore from ₹285 crore, the petrochemicals manufacturer said in a regulatory filing.

“Ongoing global challenges due to escalating raw material prices linked to geopolitical risks continue to impact us. Nevertheless, this quarter saw our efforts to better our margins. We remain focused on improving operational efficiencies,” said Chairman Ashwin Muthiah.

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