Manali Petro Q4 results: Posts standalone net at Rs 11.55 crore

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Chennai: Petrochemicals firm Manali Petrochemicals Ltd on Tuesday introduced standalone earnings after tax for the January-March 2020 quarter at Rs 11.55 crore.

The city-based firm engaged in manufacturing of propylene glycol and polyols had reported a standalone net earnings at Rs 21.17 crore throughout corresponding interval final 12 months, MPL stated in a BSE submitting.

For the complete 12 months ending March 31, 2020 standalone earnings after tax dropped to Rs 38.64 crore from Rs 65.41 crore registered final 12 months.

Total earnings for the quarter beneath evaluate grew to Rs 183.01 crore from Rs 165.77 crore recorded in the identical interval final 12 months.

Total earnings for the complete 12 months ending March 31, 2020 stood at Rs 685.38 crore as in opposition to Rs 708.91 crore registered a 12 months in the past.

The board at its assembly on Tuesday beneficial a dividend of 15 per cent for FY 2019-20.

The Board on the event additionally reappointed Muthukrishnan Ravi because the managing director for a interval of three years upon completion of his present tenure on July 29.

The firm stated the COVID-19 enforced lockdown has impacted regular enterprise operations of the corporate.

Commenting on the monetary efficiency, MPL Chairman, Ashwin Muthiah stated, “our team’s resilience ensured that we continue to serve our customers even in such an extraordinary time alongside taking care of health and safety of employees.”

“As we get back to normal operations, we hope to recover from his crisis at the earliest,” he added.

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