Tamil Nadu Petroproducts Q2 Profit: Rs 2.83 cr - PTI

Chennai, Nov 12 (PTI) Tamil Nadu Petroproducts Ltd has reported a standalone profit after tax for the quarter ending September 2024 at Rs 2.83 crore, the city-based company said on Tuesday.

The petrochemical manufacturing company had registered a profit after tax of Rs 15.79 crore during the corresponding quarter of last financial year.

In a statement on Tuesday, the company said it had incurred Rs 1.62 crore during the quarter towards taking up material damage and plant restoration activities on account of the damage caused by Cyclone Mchaung which crossed Chennai coast in December 2023.

Revenues during the quarter under review stood at Rs 455.66 crore, as against Rs 441.35 crore registered in the year ago period.

The operating performance reflects stable demand and reduced realisations in the context of higher energy and input costs, the company said.

"Despite ongoing macroeconomic challenges, Tamilnadu Petroproducts Ltd has achieved revenue growth compared to the same period last year. Our focus on operational efficiency and cost management has been a key highlight," company Vice Chairman Ashwin Muthiah said.

"We remain committed to fostering long-term customer relationships while prioritising environmentally friendly products and solutions," he added.