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Phillips Carbon Black Ltd (PCBL) reported 84 per cent dip in net profit to Rs 5 crore for the quarter ended March 31, 2012, compared to Rs 33 crore same period last year. The RP-Sanjiv Goenka Group outfit announced a dividend of Rs 4 for on shares of Rs 10 each.
According a company release, the net profit was impacted largely due to lower capacity utilisation arising out of lower offtake by tyre companies. Higher imports of carbon black from China allegedly at dumping prices squeezed margins. Shares of the company were down by 6.20 per cent to Rs 93.85 at BSE in the afternoon trade.
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