Tamilnadu Petroproducts Limited (TPL), India’s leading manufacturer of industrial chemicals,announced its financial results for Q2FY20 today with an improvement in thebottomline while maintaining topline growth. The healthy performanceinspite of challenging macro-economic environment shows focus on efficiency and production.
During the 2nd quarter of the current fiscal TPL posted a PBT of INR 24.44 crore as compared toINR 21.86 crore for the corresponding period of the previous year – an increase of 12%. Thenet profits stood at INR 20.89 crore, 8% higher than INR 19.33 crore in the corresponding period of the previous year. Total revenues registered growth in spite of the current economic scenario.
Standalone Quarterly Performance
(In INR crore)
|Particulars||Q2FY20||Q2FY19||Variance||Year ended 31.03.19||Year to Date
|Earnings per share (INR)||2.32||2.15||9%||6.03||4.44|
Mr. Ashwin Muthiah, Vice Chairman – TPL and Founder Chairman, AM International, Singapore, said:
“TPL’s robust results showcase the company’s strategy ofoperational efficiency and continuous cost optimization. Inspite of a tepid topline growth, the profitability numbers are healthy and better. In today’s macro economic scenario, with a professional leadership team in place, we are optimistic of the company’s continued performance in a sustainable manner.”
About Tamilnadu Petroproducts Limited
Incorporated in the year 1984, Tamilnadu Petroproducts Limited (TPL) is one of the leading manufacturers of industrial intermediate chemicals, viz., Lenora Alkyl Benzene (LAB), Caustic Soda and Propylene Oxide in the country. The Company also sells Chlorine as a co-product of Caustic Soda.
LAB is used extensively in detergent production and also as a solvent and binder in speciality products such as cable oil, ink, paint, insulations, etc. Caustic Soda finds wide applications in textile, pulp & paper, aluminium and soaps & detergents, etc. Chlorine finds use in vinyl chloride, chlorinated paraffin wax, pulp & paper, water purification, chlorinated solvents, etc. Propylene Oxide is the feedstock for Polyols and other Petrochemicals, production of which commenced in 2018-19.
The Company is committed to be the preferred chemicals provider and add value to all the stakeholders.