Tamilnadu Petroproducts Ltd (TPL) has more than doubled its profit after tax at ₹47 crore for the quarter ended December 31, 2021 when compared with a PAT of ₹22 crore in the year-ago quarter
Its total revenue also reported a strong increase to ₹452 crore when compared with ₹293 crore in Q3 of previous fiscal.
Net earnings nearly doubled vis-à-vis Q3FY21 and higher than the preceding quarter, according to a statement
“TPL has maintained its performance thanks to demand and price trends continuing for LAB (linear alkyl Benzene),” said Muthukrishnan Ravi, CEO, Petrochemicals Division of AM International group.
EBITDA (earnings before interest, depreciation and tax) was higher at ₹70 crore (₹37 crore). PBT stood at ₹63 crore (₹30 crore).
“TPL’s continued robust performance despite the pandemic related challenges demonstrates the company’s inherent ability to deliver despite external challenges. Going ahead, the company may face increased price pressure with the resumption of global trade and Indian imports. However, we are building a resilient organization that is future-ready to meet any changing market dynamics, said Ashwin Muthiah, Vice-Chairman – TPL and Founder Chairman, AM International, Singapore.
For the nine-month period ended December 31, 2021, TPL reported a PAT of ₹147 crore as against ₹59 crore in the same period previous fiscal. Total revenue was higher at ₹1,380 crore as compared to ₹803 crore.
“Ups and downs in Chlor-alkali off-take are a concern, further accentuated by direct and indirect imports of these products. However, the PO unit stabilising, and meeting supply commitments is a good sign. The company’s market leadership and customer confidence would help sustain the present trend,” said Ravi.