Manali Petro clocks 4qtr standalone PAT at Rs 20.93 cr

: Polyol manufacturing company Manali Petrochemicals Monday recorded a decline in its standalone Profit After Tax at Rs 20.93 crore for the January-March 2019 quarter.

The company had clocked standalone PAT at Rs 26.64 crore registered a year ago.

For the year ending March 31, 2019 PAT surged to Rs 65.17 crore, from Rs 54.87 crore a year ago.

The standalone total income for the January-March 2019 quarter was Rs 165.78 crore as against Rs 190.52 crore a year ago.

For the year ending March 31, 2019, standalone total income was at Rs 708.91 crore from Rs 664.57 crore in the same period of the previous fiscal.

The board of directors, at its meeting, recommended a 15 per cent dividend (75 paise per share of Rs 5) for the year from 10 per cent (50 paise per share) last year, an increase of 50 per cent.

On the financial performance, company Chairman Ashwin Muthiah said "MPL's performance for the year has been robust in spite of various macro-economic challenges".

The company's continuous focus on customer centricity has resulted in a healthier bottom-line, he said.

During the year (2018-19), the products of the UK subsidiary were made at the Chennai plant for the first time, leading to better product availability for clients, he said.

The operating profits during 2018-19 were similar as in the previous year due to better sales realisation in the first two quarters, he added.