Tamilnadu Petro Apr-June consolidated net up 97.7%

PTI | Chennai | Updated: 31-07-2019 20:14 IST | Created: 31-07-2019 20:14 IST
Tamilnadu Petro Apr-June consolidated net up 97.7%

Tamilnadu Petro Apr-June consolidated net up 97.7% Chennai, July 31 (PTI): Industrial chemicals manufacturer Tamilnadu Petroproducts Ltd Wednesday posted a 97.7 per cent rise in its consolidated net profits for the April-June quarter to Rs 19.91 crore. The city-based company had registered consolidated net profits at Rs 10.07 crore in the corresponding quarter of the previous year.

For the year ending March 31, 2019 consolidated net profits were at Rs 57.03 crore. Consolidated total income for the April-June quarter grew to Rs 345.42 crore from Rs 278.07 crore registered in the same period of last fiscal.

For the full year ending March 31, 2019, total income was at Rs 1,255.46 crore. Commenting on the financial performance, company Vice Chairman, Ashwin Muthiah said "TPL has had a strong start to FY20. The results show that the company has bucked the general trend." "This was achieved through our strategy of streamlining operations through prudent inventory management, improving plant efficiency and other cost effectiveness measures", he said.

"..we would endeavour to maintain this trend for the rest of the year and continue to deliver value to our shareholders in the remaining quarters", he said. The results were the company's best ever performance in the last 15 years, the release said..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



East African women traders: 'Celebrating the past, planning for the future'

COVID-19 has hit women disproportionately hard across East Africa, especially those working in the informal sector. Lessons must be learnt to prevent this from happening again....

Viral variants and vaccine nationalism pose two-pronged threat to Covid victory

... ...

Tracking Fintech during COVID-19: Harnessing power of technology

Its abundantly clear now that as fintech cements its place in the financial sector, accelerated further by the COVID-19 pandemic, it could open the sector to new possibilities by harnessing the power of technology to deliver financial ...

Tectonic turns: How technology shaped healthcare over the decades

Tracing an episodic evolution, with technology at the interface of human and his health....


Latest News

FOREX-Euro inches higher ahead of ECB meeting, dollar languishes

The euro edged higher before a European Central Bank meeting later on Thursday, where any positive comments about the economic outlook or hints of tapering bond purchases are expected to send the common currency racing higher.The ECB is not...

Govt interventions for job creation starting to yield results

A number of government interventions to stimulate the participation of more South Africans in the economy, particularly young people, are starting to yield results.According to the acting Minister in the Presidency, Khumbudzo Ntshavheni, th...

COVID: Gehlot urges Rajasthan MPs to take up shortage issue with Centre

Chief Minister Ashok Gehlot on Thursday appealed to Rajasthan MPs to take up the matter pertaining to shortage of oxygen and medicines in the state seriously with the Centre. All the members of Parliament should come forward to ensure a pro...

FEATURE-Michael Keaton's next project? Green construction in Pittsburgh

Growing up outside of Pittsburgh, Michael Keaton remembers seeing the flames of industrial plant flares from the woods where he played, the bright colors reflecting off the citys rivers.It was weirdly kind of beautiful at night, to tell you...

Give Feedback