Tamilnadu Petro Q1 net at Rs 5 cr, up from Rs 0.33 cr a year ago

Firm gets environmental nod to change manufacturing product at one of its facilities

Tamilnadu Petroproducts Ltd has posted a net profit of Rs 4.99 crore during the quarter ended June 30, 2015, compared with Rs 0.33 crore posted during the same quarter of previous fiscal year.

The firm's total income during the quarter dropped to Rs 227.4 crore from Rs 278.74 crore during the corresponding period of previous year.

The company said that it has received clearance from the Ministry of Environment and Forests and Climate Change for using its erstwhile epichlorohydrin plant to manufacture of a raw material for an associate company. The company said that the modification of the plant will be started and production is expected to commence within 18 months from thereon.

Tamilnadu Petroproducts Limited (TPL) has established facilities to manufacture 10,908 MTPA of Epichlorohydrin since 1995 which is a key raw material in the manufacture of epoxy resins, pesticides and pharmaceutical formulations.