Companies

Tamilnadu Petroproducts posts ₹45-crore profit in Q2

Our Bureau Chennai | Updated on November 08, 2021

Ashwin Muthiah, Vice-Chairman, TPL

PBT stood at ₹61 crore as compared to ₹33 crore

Tamilnadu Petroproducts Ltd (TPL) reported a profit after tax of ₹45 crore for the quarter ended September 30 when compared to a PAT of ₹25 crore in the same quarter a year ago.

Revenues nearly double

Its revenue stood at ₹463 crore when compared with ₹288 crore last year.

“Earnings nearly doubled vis-à-vis Q2FY21 but was lower than the preceding quarter, attributable to a decrease in price realisation,” said a statement.

EBITDA (earnings before interest, depreciation and tax) was higher at ₹68 crore against ₹40 crore. PBT stood at ₹61 crore as compared to ₹33 crore.

“The financial results demonstrate that the company’s business strategy of focusing on customers while maintaining revenues is working well. As the economy recovers, the fundamental goal will be to maintain operational continuity, deliver healthy margins and continue our investments in technology and green energy initiatives,” said Ashwin Muthiah, Vice-Chairman – TPL and Founder Chairman – AM International, Singapore.

CSR commitments

TPL’s Board has approved proposals for expansion of health services under its CSR commitments. Following the inauguration of a primary health care centre in the preceding quarter, it proposed setting up of two more centres and a mobile clinic for the benefit of inhabitants in and around Manali.

Published on November 08, 2021

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