Manali Petrochemicals Navigates Economic Challenges, Bolsters Global Expansion

Manali Petrochemicals Ltd reported a consolidated profit after tax of Rs 5.27 crore for the October-December 2024 quarter, citing economic challenges. The company has improved internal efficiencies and relies on overseas subsidiaries to maintain profitability. Revenue fell compared to the previous year, but future expansion is planned.

Manali Petrochemicals Ltd reported a consolidated profit after tax of Rs 5.27 crore for the October-December 2024 quarter, despite facing macro-economic challenges, the company announced on Thursday. This petrochemical manufacturer, based in the city, had noted a smaller profit after tax of Rs 2 crore in the preceding July-September 2024 quarter.

For the nine-month period ending December 31, 2024, the company's profit after tax stood at Rs 18.51 crore, up from Rs 17.91 crore during the previous year's same period. Chairman Ashwin Muthiah attributed the performance to internal efficiencies and highlighted that unhindered imports pose challenges to domestic industries lacking tariff protection. The company expects further progress through its overseas subsidiaries, contributing significantly to profitability and an expanded product portfolio.

Consolidated total income for the October-December 2024 quarter was Rs 200.49 crore, a decrease from Rs 236.01 crore in the July-September quarter. The April-December 2024 period saw total income fall to Rs 683.30 crore from Rs 798.88 crore in the previous fiscal year. CEO R Chandrasekar noted a focus on cost efficiency has reduced standalone losses, with future expansions in Asian and Indian markets expected to enhance the company's portfolio and value.