Phillips Carbon Black Ltd today reported a net profit of Rs 28.71 crore for the first quarter of the current fiscal, a rise of 40.18 per cent over the corresponding period last year.

The sales during the quarter was Rs 401.03 crore, as against Rs 249.93 crore registered in the corresponding period of the previous year.

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Company chairman Sanjiv Goenka said the company would further expand the Mundra facility with another 50,000 tonne capacity.
    
With expansions in the pipeline, the total installed capacity will go up to 4.10 lakh tonne from 3.6 lakh tonne by end of the fiscal.
    
Speaking about the Vietnam carbon black JV project, Goenka said the process of land acquisition work is in progress.
    
The project was expected to be commissioned in 2012.

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