Phillips Carbon Black board has approved raising funds to the tune of Rs 500 crore by way of issue of securities. It has also approved sub-division of equity shares having a face value of Rs 10 each into five equity shares of face value of Rs 2 each.
Results
Riding on the back of higher sales and better capacity utilisation, Phillips Carbon Black Ltd witnessed a near four-fold jump in net profit at Rs 57 crore for the quarter ended December 31, 2017. Net profit during same period last year stood at Rs 15 crore.
Revenue from operations increased by nearly 13 per cent to Rs 612 crore during the quarter under review compared with Rs 539 crore in the same period last year.
The company has an installed capacity of 4, 80,000 tonnes across its four plants at Durgapur, Kochi, Mundra and Palej.