Phillips Carbon Q3 net down 31%

Phillips Carbon Black, the country's largest carbon black maker, today said its net profit during the third quarter ended December 31, 2011, stood at Rs 19.64 crore, down 31%, compared to the year-ago period.

Sales, however, rose to Rs 514.34 crore from Rs 431.61 crore on account higher price due to sharp rise in cost of input prices.

The performance was affected due to lower offtake by tyre companies and higher imports of carbon black in the country from China at dumping prices, resulting in lower capacity utilisation after commissioning of Mundra softline in April 2011, the company said in a statement.

The company has a current installed capacity of 4,10,000 million tonne, while co-generation power capacity is 70.5 MW. It's manufacturing units are located at Durgapur (West Bengal), Mundra & Palej (Gujarat) and Kochi (Kerala), the company said.

The company is implementing additional captive power plant of 8 MW at Mundra, an expanded carbon black capacity by 50,000 million tonne at Kochi. The de-bottlenecking in Durgapur will increase capacity by another 12,000 million tonne.

All these projects are expected to be commissioned in next six months, the company said.