Business

Tamilnadu Petro Q2 profit surges to ₹45.20 crore

Tamilnadu Petroproducts Ltd. (TPL), standalone net profit for the second quarter ended September rose 83% to ₹45.20 crore.

The city-based petrochemical manufacturing firm and part of AM International, Singapore, posted revenue from operations of ₹458 crore against ₹284 crore in the corresponding year-earlier period, it said in a statement.

The financial results demonstrate that the company’s business strategy of focusing on customers while maintaining revenues is working well, said Ashwin Muthiah, vice-chairman, TPL.

Sales volumes were almost similar in both the first and second quarters of current fiscal but due to supply-demand mismatch, spot prices were lower during the quarter under review. On the other hand, the input costs went up, resulting in lower EBIDTA of about 16%, said Muthukrishnan Ravi, CEO, petrochemicals division, AM International group.


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Printable version | Dec 6, 2021 6:25:49 AM | https://www.thehindu.com/business/tamilnadu-petro-q2-profit-surges-to-4520-crore/article37385155.ece

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