You are here: Home » Companies » Results
Business Standard

Manali Petrochemicals reports consolidated Q3 PAT at Rs 110.09 crore

: Petrochemical manufacturing company Manali Petrochemicals Ltd has reported consolidated profit after tax for the quarter ending December 31, 2021 at Rs 110.09 crore, the company said on Thursday.

Manali Petrochemicals | Q3 results

Press Trust of India  |  Chennai 

Imaging: Ajay Mohanty

: Petrochemical manufacturing company Ltd has reported consolidated profit after tax for the quarter ending December 31, 2021 at Rs 110.09 crore, the company said on Thursday.

The city-based company and part of AM International, Singapore, had registered consolidated net at Rs 86 crore during corresponding quarter previous year.

Revenues during the quarter under review on a consolidated basis, stood at Rs 494.16 crore as compared to Rs 356 crore registered same period last fiscal.

The research and development led approach along with customer focus, was the prime reason for the sustained performance of Ltd in a challenging market conditions, company chairman Ashwin Muthiah said.

"The show that the company has strengthened its market leadership and bettered its financial performance even during tough times. I commend the team for its tireless efforts to grow its market leadership despite natural vagaries," he said.

Ltd said, as part of the expansion of Notedome UK operations, the Board has approved a proposal for setting up a new entity in Germany through AMCHEM, Singapore. The Board also approved various CSR initiatives for Rs 2.69 crore, which aim to provide basic sanitation and safe drinking water to the government schools, set up primary health care clinic among other initiatives.

Manali Petrochemicals Ltd, MD, Ravi said the product prices started to soften towards the end of the quarter (ending December 31, 2021). "The trend may continue in the next quarter, and the company is gearing up to tackle this challenge," he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, February 10 2022. 21:38 IST