Manali Petrochemicals Q4 pre-tax profit declines 90% to Rs 3.43 cr

Firm's total income up about 10% to Rs 183 cr; firm cites Covid-19 for profit numbers

Manali Petrochemicals has reported a profit before tax (PBT) of Rs 3.43 crore during the quarter ended March 31, 2020 as against Rs 34.86 crore, a year ago. Total income rose to Rs 183.01 crore from Rs 165.78 crore, a year ago.

Ashwin Muthiah, Chairman, MPL & Founder Chairman, AM International, Singapore said, “The outbreak of Covid-19 led to an unprecedented situation globally. Our team’s resilience ensured that we continue to serve our customers even in such an extraordinary time alongside taking care of the health and safety of the employees. As we get back to normal operations, we hope to recover from this crisis at the earliest.”

The petrochemicals company specialises in the manufacture of propylene glycol and polyols.

Muthukrishnan Ravi has been reappointed by the Board as the Managing Director of the Company for a period of three years from July 29 2020, when his present term ends.