Manufacturers of industrial intermediate chemicals Tamilnadu Petroproducts Ltd (TPL) has reported a standalone profit after tax for the second quarter ending September 30, 2022 at Rs 26.62 crore, the company said on Tuesday.
The standalone PAT stood at Rs 45.20 crore during corresponding period previous year.
The standalone revenues during the quarter under review was at Rs 607.65 crore as against Rs 463.43 crore registered in the same period previous year.
Tamilnadu Petroproducts Ltd is part of the Singapore-based AM International.
"TPL's sustained performance, amid continuing macroeconomic headwinds is a testimony to the resilience of our business model. Moving forward, our advantageous feed-stock strategy will continue to bring a competitive advantage to our operations," TPL Vice Chairman Ashwin Muthiah said.
AM International, petrochemicals division, CEO Muthukrishnan Ravi said the 31 per cent increase in the top-line is a result of our relentless efforts to retain our leadership position in increasingly competitive markets."To counter the increasing cost of production, we are streamlining strategies to reduce operational costs across the enterprise. Our efforts will be fortified by our disciplined focus on capital allocation and cash flow generation," he said.