Tamilnadu Petroproducts Q2 net dips on global volatility

November 02, 2023 10:06 pm | Updated 10:06 pm IST - CHENNAI

 Ashwin Muthiah

 Ashwin Muthiah

Tamilnadu Petroproducts Ltd.’s (TPL) standalone net profit for the September quarter declined to ₹16 crore from ₹27 crore in the year-earlier period due to global volatility and escalating raw material prices.

Revenue from operations contracted to ₹433 crore from ₹602 crore, the industrial intermediate chemicals manufacturer said in a statement.

“In light of the ongoing global volatility and escalating raw material prices, we continue to confront margin pressures. Amidst this challenging macroeconomic backdrop, our foremost objective remains to serve our customers while sustaining revenues and keeping an eye on the bottom-line,” said Vice Chairman Ashwin Muthiah.

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