Tamilnadu Petroproducts sees Q3 PAT at Rs 47 cr

Chennai-based petrochemical company Tamilnadu Petroproducts Limited (TPL), part of AM International - Singapore, has seen its Q3 net profits more than double to nearly Rs 47 crore up from Rs 22 crore in the year ago period and higher than the Rs 45 crore clocked in Q2 of the current year. TPL posted a revenue of just over Rs 452 crore compared to Rs 463.43 in the preceding quarter and Rs 293 crore in the corresponding quarter of the previous year.Earnings before interest, tax, depreciation and amortization (operational EBITDA) was Rs 70 crore, nearly double the Rs 37 crore in the year ago period and higher than Rs 68 crore in Q2 of FY21-22. Profit before tax was nearly Rs 62.6 crore compared to just over Rs 30 crore in the year ago period.
Ashwin Muthiah, VC, TPL and founder chairman, A M International, Singapore said: "TPL’s continued robust performance despite the pandemic related challenges demonstrates the company’s ability to deliver despite external challenges. Going ahead, the company may face increased price pressure with the resumption of global trade and Indian imports."
Muthukrishnan Ravi, CEO, Petrochemicals Division of AM International group, said that TPL has maintained its performance thanks to demand and price trends continuing for LAB. "Ups and downs in chlor-alkali off-take are a concern, further accentuated by direct and indirect imports of these products," he said. "However, the PO unit stabilizing, and meeting supply commitments is a good sign. "