Manali Petrochemicals reports ₹120-cr net in Q2

Our Bureau Chennai | Updated on November 09, 2021

Ashwin Muthiah, Chairman – MPL

Its EBITDA was higher at ₹166 crore

Manali Petrochemicals Ltd (MPL) reported a standalone profit after tax (PAT) of ₹120 crore for the quarter ended September 30, compared with a PAT of ₹18 crore in the year-ago quarter. Its EBITDA was higher at ₹166 crore (₹38 crore).

“During the September 2021 quarter, demand for all the products improved post the lifting of restrictions across the country. All-around increase was seen in product prices and margins, and the quarter recorded historically highest turnover,” said Ravi, MD of MPL and CEO, Petrochemicals Division of AM International Group.

Revenue stood at ₹408 crore, which was more than twice of ₹198 crore reported in the corresponding period of last year and 45 per cent higher than ₹283 crore in the preceding quarter. For the half-year period ended September 30, PAT was higher at ₹196 crore compared to ₹17 crore in the year-ago period. Its total revenue was ₹691 crore, higher by 1.60 times over ₹268 crore in the first half of FY21. EBIDTA was up 40 per cent vis-a-vis 16 per cent in the corresponding period in FY20-21, which had been impacted by prolonged lockdowns and various other restrictions.

Best quarterly performance

“The best quarterly performance in the company’s history is a testimony to its relentless focus on science and innovation-led growth. We will move ahead with our dual focus on profitable and healthy growth while implementing green technologies for our products and plants,” said Ashwin Muthiah, Chairman – MPL and Founder Chairman, AM International, Singapore.

Published on November 09, 2021

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