Tamilnadu Petroproducts clocks Q1 standalone PAT at Rs 55 cr

Chennai: Petrochemical manufacturing firm Tamilnadu Petroproducts Ltd (TPL) has reported standalone revenue after tax for the quarter ending June 30, 2021 at Rs. 54.64 crore. (*55*) city-based firm, a part of Singapore-based AM International, had clocked standalone PAT at Rs. 12.41 crore throughout corresponding quarter earlier 12 months, the corporate mentioned on Tuesday.

Revenues for the quarter below evaluation grew to Rs. 464.37 crore from Rs. 221.67 crore registered similar interval 12 months in the past.

In a press release, the corporate mentioned compared to the final quarter of the earlier 12 months, the earnings earlier than tax (PBT) and revenue after tax (PAT) for the quarter below evaluation have been increased by about 14 per cent and 44 per cent respectively with out contemplating the distinctive credit in that quarter.

Meanwhile in one other improvement, the corporate mentioned Industries Department Principal Secretary N Muruganandam has been appointed as non-executive chairman of the Board whereas Tamil Nadu Industrial Development Corporation (TIDCO) Chairman Pankaj Kumar Bansal and TIDCO basic supervisor R Bhuvaneswari have been appointed because the non-executive administrators.

Tamilnadu Petroproducts Ltd posted a rise of about 32 per cent in its income in Q1-FY21-22 as over the previous quarter and EBITDA went up by about 9.50 per cent in comparison with the previous quarter of the earlier monetary 12 months, which witnessed a strict lockdown and associated restrictions, through the newest quarter the gross sales have doubled and the earnings tripled, the assertion mentioned.

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