TN Petro Q3 net profit more than doubles to ₹47 cr.

February 09, 2022 11:35 pm | Updated 11:35 pm IST - Chennai

Tamilnadu Petroproducts Ltd (TPL) standalone net profit for the third quarter ended December more than doubled to ₹47 crore from ₹22 crore.

TPL posted a revenue from operations of ₹448 crore against ₹289 crore in the corresponding year-earlier period, the company said in a regulatory filing.

“Going ahead, the company may face increased price pressure with the resumption of global trade and Indian imports. However, we are building a resilient organisation that is future-ready to meet any changing market dynamics,” said vice chairman Ashwin Muthiah.

“Ups and downs in chlor-alkali off-take are a concern, further accentuated by direct and indirect imports of these products. However, the PO unit stabilising, and meeting supply commitments is a good sign. The company’s market leadership and customer confidence would help sustain the present trend,” said Muthukrishnan Ravi, CEO, Petrochemicals Division of AM International Group.

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