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Tamilnadu Petroproducts
Petrochemicals manufacturer Tamilnadu Petroproducts Ltd reported a standalone profit after tax of Rs 10.31 crore for the October-December 2024 quarter, driven by efficient cost management and improved realisations, the company said on Wednesday. The Chennai-based company, a leader in the production of industrial intermediate chemicals and chlorine, had recorded a profit after tax of Rs 2.44 crore during the corresponding quarter of the previous year. Standalone revenue for the October-December 2024 quarter grew to Rs 465.13 crore from Rs 351.98 crore in the year-ago period. In a statement, Tamilnadu Petroproducts Ltd said its operating performance reflected optimal production, efficient cost management, and improved realisations in the current competitive environment. The company incurred Rs 86 lakh in material damage and plant restoration expenses during the quarter under review, following the impact of Cyclone Michaung in December 2023. "Our Q3 results reflect revenue growth and
Industrial chemicals manufacturer Tamilnadu Petroproducts Ltd has roped in strategic consultancy firm EY-Parthenon to support its carbon-neutral goals, the company said on Wednesday. By leveraging EY-Parthenon's expertise in sustainability strategy formulation and execution, Chennai-based Tamilnadu Petroproducts Ltd aims to develop an integrated carbon-neutral roadmap aligned with its long-term sustainability goals. "Tamilnadu Petroproducts Ltd is taking proactive steps to contribute to climate change objectives. Our collaboration with EY-Parthenon, signifies a deliberate move towards this objective with a scientific, measurable and time-bound approach," said its Vice-Chairman Ashwin Muthiah. Tamilnadu Petroproducts Ltd produces industrial intermediate chemicals including Alkhyl benzene, Caustic Soda and Propylene Oxide. "We are pleased to partner with Tamilnadu Petroproducts Ltd on their journey towards carbon neutrality. Leveraging EY-Parthenon's deep knowledge of value led ...
Petrochemical manufacturing company Tamilnadu Petroproducts Ltd has recorded a standalone profit after tax for the October-December 2023 quarter at Rs 2.44 crore, following the impact of cyclone Michaung which led to disruption in manufacturing facilities. The city-based company, part of the AM International - Singapore, had posted a standalone net profit at Rs 25.23 crore, during the corresponding quarter of last year. For the nine months period ending December 31, 2023 the standalone net profit stood at Rs 31.82 crore, as against Rs 79.40 crore registered a year ago. "In the quarter (October-December 2023) we encountered challenges due to the cyclone, leading to disruptions in our manufacturing facilities and loss of plant and machinery. Despite these obstacles, we have successfully restored our operations, minimising disruptions to our customer delivery schedule" said TPL Vice Chairman Ashwin Muthiah. The standalone total income during the quarter under review slipped to Rs 351.