Chennai, May 23 

Tamilnadu Petroproducts Ltd (TPL) has reported a standalone profit after tax (PAT) of ₹24 crore for the quarter ended March 31, 2022, a sharp drop from the ₹63 crore reported in FY21.  

Revenue increased to ₹438 crore when compared with ₹353 crore in the March 2021 quarter. However, EBITDA (earnings before interest, depreciation and tax) was lower at ₹41 crore, as compared to ₹74 crore. PBT stood at ₹34 crore, as against ₹90 crore 

The lower profit was due mainly to the LAB (Linear Alkyl Benzene) annual turnaround maintenance undertaken during the quarter, said a statement.  

For the full year ended March 31, 2022, profit after tax was higher at ₹171 crore, when compared with ₹122 crore in FY21. Profit before tax stood at Rs 232 crore, as against Rs 170 crore. 

EBITDA in FY22 was significantly higher at Rs 261 crore as against Rs 175 crore in FY21. 

Revenue grew by 57 per cent to Rs 1,818 crore, compared to Rs 1,155 crore in FY21. 

“The good results, in spite of external challenges, showcase our ability to de-risk our operations through predictable business decisions. In addition, we are complementing India’s policy thrust to become Atmanirbhar through local manufacturing and a globally competitive chemicals and science organisation.,” said Ashwin Muthiah, Vice-Chairman, TPL, and Founder Chairman, AM International, Singapore.

“The global scenario and the higher domestic demand and relatively lower imports helped the company earn the best-ever sales and profits. However, there has been a slowdown in demand since the beginning of the current year. Higher input costs on account of oil price increases, lower prices due to a fall in demand and imports at almost the pre-2020 levels are cause for concern, said Ravi, CEO, Petrochemicals Division of AM Group. 

The board has recommended a dividend of 30 per cent (Rs 3 per share) for FY22, (25 per cent in the previous year). 

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