Companies

Phillips Carbon profit surges to ₹125 cr in Dec quarter

Our Bureau Kolkata | Updated on January 20, 2021

RP-Sanjiv Goenka Group owned, Phillips Carbon Black Ltd, has reported a near 80 per cent jump in standalone net profit to ₹125 crore, year-on-year, for the quarter ending December 31, 2020. The net profit in the corresponding quarter last fiscal stood at ₹70 crore.

Revenues for the period under review remained near stagnant at ₹769 crore. Both its prime verticals — carbon black and power — reported near flat revenues.

The company saw raw material consumption cost fall by nearly 18 per cent, YoY, to ₹411 crore for Q3FY21, aiding bottom-line expansion. Profit before tax improved to ₹154 crore, over 67 per cent jump YoY.

Phillips Carbon Black has also “put on trial” its new speciality black line of 12 KTPA, at Palej in Gujarat, it said in a notification to the bourses. The commissioning is expected in February.

The greenfield project of 150 KTPA, in Tamil Nadu, for manufacture of different grades of carbon black and 23 MW of co-generation power is “progressing strategically” and is likely to be commissioned by March 2023, its notification further added.

Another 7-MW co-generation power plant at Kochi is expected to commissioned by this year-end.

Interim dividend

Meanwhile, the Board has recommended an interim dividend of ₹7 or 350 per cent for each equity share of face value ₹2.

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Published on January 20, 2021
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