Left Menu
Development News Edition

Manali Petro posts standalone Q4 net at Rs 11.55 cr

The city-based company engaged in manufacturing of propylene glycol and polyols had reported a standalone net profits at Rs 21.17 crore during corresponding period last year, MPL said in a BSE filing. For the full year ending March 31, 2020 standalone profits after tax dropped to Rs 38.64 crore from Rs 65.41 crore registered last year.

PTI | Chennai | Updated: 16-06-2020 18:04 IST | Created: 16-06-2020 18:04 IST
Manali Petro posts standalone Q4 net at Rs 11.55 cr

Chennai, Jun 16 (PTI): Petrochemicals company Manali Petrochemicals Ltd on Tuesday announced standalone profits after tax for the January-March 2020 quarter at Rs 11.55 crore. The city-based company engaged in manufacturing of propylene glycol and polyols had reported a standalone net profits at Rs 21.17 crore during corresponding period last year, MPL said in a BSE filing.

For the full year ending March 31, 2020 standalone profits after tax dropped to Rs 38.64 crore from Rs 65.41 crore registered last year. Total income for the quarter under review grew to Rs 183.01 crore from Rs 165.77 crore recorded in the same period last year.

Total income for the full year ending March 31, 2020 stood at Rs 685.38 crore as against Rs 708.91 crore registered a year ago. The board at its meeting on Tuesday recommended a dividend of 15 per cent for FY 2019-20.

The Board on the occasion also reappointed Muthukrishnan Ravi as the managing director for a period of three years upon completion of his current tenure on July 29. The company said the COVID-19 enforced lockdown has impacted normal business operations of the company.

Commenting on the financial performance, MPL Chairman, Ashwin Muthiah said, "our team's resilience ensured that we continue to serve our customers even in such an extraordinary time alongside taking care of health and safety of employees." "As we get back to normal operations, we hope to recover from his crisis at the earliest," he added.PTI VIJ SS PTI PTI.


TRENDING

OPINION / BLOG / INTERVIEW

New farm bills in India: Focusing on farms or farmers?

... ...

Kenya’s COVID-19 response: Chaos amid lack of information

Confusing numbers and scanty information on how effective curfews and lockdowns have been in breaking transmission have amplified coordination and planning challenges in Kenyas response to COVID-19. Without accurate data, it is impossible t...

Farkhad Akhmedov: Calculating the price of impunity from the law

In insistences such as the battle over the Luna, Akhmedov has resorted to extreme legal machinations to subvert the High Courts decision and keep his assets from being seized. ...

Guinea’s elections hearken back to the autocracy and violence of its past

... ...

Videos

Latest News

Mali soldiers air drop provisions to village besieged by suspected jihadists

Malis military said on Tuesday it had air dropped food into a village in the centre of the country where more than 2,000 residents have been besieged by suspected Islamist militants for the past two weeks. The situation in Farabougou, most ...

COVID patient's death:Doctor supports nurse's claim on "negligence"; hospital refutes allegations

A doctor working at the government medical college hospital here on Tuesday supported a nursing officers recent controversial claim that negligence in connecting the ventilator led to the death of a COVID-19 patient at the hospital in July ...

Sweden to ease border restrictions for elite sports

Sweden plans to give competitors in elite sports an exemption from rules banning travel to the country from outside the European Union, the government said on Tuesday. Sweden closed its borders to travellers from outside the EU on March 19,...

Yediyurappa will not remain CM for long, his successor will be from north Karnataka: BJP MLA

Indicating a rebellion, senior BJP legislator Basanagouda Patil Yatnal has said that B S Yediyurappa will not remain Chief Minister for long and the high command has decided that his successor will be from the north Karnataka region. The fo...

Give Feedback