Tamilnadu Petroproducts Q4 results: Reports standalone net profit at Rs 1.98 crore

Chennai: Chemicals manufacturing firm Tamilnadu Petroproducts Ltd (TPL) has declared standalone net profit after tax at Rs 1.98 crore for January-March 31, 2020.

The city-based agency had reported standalone net profit at Rs 11.39 crore in the course of the corresponding quarter earlier yr.

For the complete yr ending March 31, 2020, net profit after tax was at Rs 55.08 crore as towards Rs 54.27 crore recorded in the identical interval final yr, Tamilnadu Petroproducts Ltd mentioned in a BSE submitting.

Total revenue for the fourth quarter ending March 31, 2020 slipped to Rs 263.40 crore from Rs 334.13 crore.

Total revenue for the yr ending March 31, 2020 was at Rs 1,233.21 crore as in comparison with Rs 1,252.29 crore registered a yr in the past.

The board at its assembly on Monday advisable a dividend of 15 perbcent for the FY2019-20.

In an announcement, the corporate mentioned the decrease gross sales was as a result of annual turnaround undertaken in the course of the quarter ending March 31, 2020 and in addition no gross sales had been reported over the last week of March as a result of COVID-19 enforced lockdown throughout the nation.

On the impression of COVID-19 on its enterprise, the corporate mentioned it impacted regular enterprise operations.

Operations of the models restarted in phases from the second week of April 2020 as per the federal government tips, the assertion mentioned.

The Board additionally appointed IAS officer Kakarla Usha because the non-executive chairperson.

Commenting on the monetary efficiency, TPL Vice-Chairman Ashwin Muthiah mentioned enterprise efficiency is getting redefined in a submit COVID-19 world.

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