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Manali Petrochemicals records Q1 PAT at Rs 11.18 crore

By PTI

Chemical manufacturer Manali Petrochemicals onAugust 7 recorded standalone profit after tax at Rs 11.18 crore for the April-June quarter.

The city-based company had recorded standalone profit after tax at Rs 15.96 crore. Total revenue on a standalone basis was at Rs 182.99 crore against Rs 165.78 crore registered same period year ago.

The company improved its turnover but due to market conditions the product margins were impacted, a company statement said. Commenting on the financial performance, company chairman Ashwin Muthiah said, "in spite of macro-economic challenges, MPL could improve its total revenue." "The management is taking steps to better the margins and we expect there would be improvement in coming periods," he said.
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