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Phillips Carbon Black Ltd reported a substantial jump in standalone net profit at ₹104 crore for the quarter ending June 30. The rise came on the back of a low base with the company reporting a net profit of just ₹2.31 crore in the corresponding period last fiscal.
Turnover, for the period under review, saw a 180 per cent jump YoY to ₹1,004 crore.
On a sequential basis, the company’s net profit saw an 18 per cent decline, despite a 16 per cent rise in turnover.
Net profit, on a standalone basis, came down primarily due to an increase in expenses, particularly consumption of raw materials, which shot up by 30 per cent.
The company, in an explanation to the profit and loss statement, said the results of Q1 FY22 are not comparable with that of the previous fiscal because of the Covid-19 induced national lockdown that was on at that point of time.
The regional lockdown caused by the second wave of the virus impacted operations of PCBL too, it added.
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