TPL more than doubles its net profits in Q1FY20
- Profits before tax register60% growth
31stJuly 2019, Chennai / Mumbai:
Financials:
Tamilnadu
Petroproducts Limited (TPL), India’s leading manufacturer of industrial chemicals,
announced its financial results for Q1FY20 today. The company has posted a 24%
increase in its total income during the quarter vis-à-vis the corresponding
period in the last fiscal.
TPL
posted an impressive increase in its profits during the quarter. The profits
before tax (PBT) increased by 60% over the Q1FY19 – from INR 1,533 lakh to INR 2,447
lakh. The profits after tax (PAT) margins expanded by over 100% - from INR 942lakhin
Q1FY19 to INR 1904lakh in Q1FY20. The earnings per share (EPS) also doubled to
Rs. 2.12 per share. This is the company’s
best-ever quarterly performance in the last 15 years.
Consolidated Quarterly Performance:
The above were reflected in the consolidated results, also as
shown below.
|
|
Financial
Results (INR Lakh)
|
||
|
30-06-19
|
31-03-19
|
30-06-18
|
|
|
Total Income
|
34,542
|
33,493
|
27,807
|
|
Profit before Tax
|
2,534
|
1,776
|
1,598
|
|
Profit after Tax
|
1,991
|
1,204
|
1,007
|
|
Earnings per share (INR)
|
2.22
|
1.34
|
1.12
|
Leadership Comment:
Mr. Ashwin Muthiah, Vice Chairman – TPL&Founder Chairman, AM International,
Singapore
“TPL has had a strong start to FY20. I want to
congratulate the team for its dedication and hard work. 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. The positive
start is encouraging, and 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.”
About Tamilnadu Petroproducts Limited
Incorporated in the year 1984, Tamilnadu Petroproducts
Limited (TPL) is one of the leading manufacturers of industrial intermediate
chemicals, viz., Lenora Alkyl Benzene (LAB), Caustic Soda and Propylene Oxide
in the country. The Company also sells Chlorine as a co-product of Caustic
Soda.
LAB is used extensively in detergent production and also as
solvent and binder in speciality products such as cable oil, ink, paint,
insulations, etc. Caustic Soda finds wide applications in textile, pulp &
paper, aluminium and soaps & detergents, etc. Chlorine finds use in vinyl chloride,
chlorinated paraffin wax, pulp & paper, water purification, chlorinated
solvents, etc. Propylene Oxide is the
feedstock for Polyols and other Petrochemicals, production of which commenced
in 2018-19
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