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Tamilnadu Petroproducts Ltd continues impressive performance in Q2 FY20

Posted On: 2019-11-12 10:20:29

Tamilnadu Petroproducts Limited (TPL), India's leading manufacturer of industrial chemicals, announced its financial results for Q2FY20 today with an improvement in the bottomline while maintaining topline growth. The healthy performance inspite of challenging macro-economic environment shows focus on efficiency and production.

Financials:

During the 2nd quarter of the current fiscal TPL posted a PBT of INR 24.44 crore as compared to INR 21.86 crore for the corresponding period of the previous year - an increase of 12%. The net profits stood at INR 20.89 crore, 8% higher than INR 19.33 crore in the corresponding period of the previous year. Total revenues registered growth in spite of the current economic scenario.

Mr. Ashwin Muthiah, Vice Chairman - TPL and Founder Chairman, AM International, Singapore, said: "TPL's robust results showcase the company's strategy of operational efficiency and continuous cost optimization. Inspite of a tepid topline growth, the profitability numbers are healthy and better. In today's macro economic scenario, with a professional leadership team in place, we are optimistic of the company's continued performance in a sustainable performance."

Shares of TAMILNADU PETROPRODUCTS LTD. was last trading in BSE at Rs.35.9 as compared to the previous close of Rs. 36.15. The total number of shares traded during the day was 7274 in over 212 trades.

The stock hit an intraday high of Rs. 36.7 and intraday low of 35.4. The net turnover during the day was Rs. 260455.


Source: Equity Bulls

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