Tamil Nadu Petroproducts Ltd records standalone Q2 PAT at Rs 15.79 cr

Petrochemicals manufacturing company Tamil Nadu Petroproducts Ltd has reported a standalone profit after tax for the July-September 2023 quarter at Rs 15.79 crore.

The city-based company, part of the AM International, Singapore had reported a standalone profit after tax at Rs 26.62 crore in the corresponding quarter of last fiscal.

Revenue during the quarter under review stood at Rs 441.35 crore, as against Rs 607.65 crore registered in the same period of last year.

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

On the financial performance, Tamil Nadu Petroproducts Ltd Vice Chairman Ashwin Muthiah said, “In light of the ongoing global volatility and escalating raw material prices, we continue to confront margin pressures.” ''Amid this challenging macroeconomic backdrop, our foremost objective remains to serve our customers while sustaining revenues and keeping an eye on the bottom-line,'' he said in a statement.

“Our ESG focus on transitioning to environmental-friendly manufacturing practices is a strategic long-term objective,” he said.

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