Tamilnadu Petroproducts logs Q1 standalone PAT of Rs 13.59 crore

The operating performance reflects stable demand, efficient cost management, and reduced realisations in the context of higher energy and input costs, the company said in a statement.

Tamilnadu Petroproducts Ltd, a part of AM International, Singapore has recorded a standalone profit after tax for the April-June 2023 quarter of Rs 13.59 crore, the company said on Tuesday.

The city-based company engaged in the manufacturing of industrial chemicals had registered a standalone profit after tax of Rs 27.55 crore during the corresponding quarter of last year.

The standalone revenues during the quarter under review stood at Rs 456.50 crore, as against Rs 560.98 crore registered in the same period last year.

The operating performance reflects stable demand, efficient cost management, and reduced realisations in the context of higher energy and input costs, the company said in a statement.

Commenting on the financial performance, Vice-Chairman and founder-Chairman of AM International, Singapore, Ashwin Muthiah said, "Our focus on operational efficiency and cost savings is evident in this quarter's financial results, despite facing higher raw material costs."

"The savings have significantly helped our bottom line as compared to the same period of last year. Given the delicate macroeconomic landscape, we remain focused to enhance operational metrics through value-driven practices," he added.