Expressnews
Chennai / Mumbai: Tamilnadu Petroproducts Limited (TPL), Chennai based Petrochemical manufacturing company and part of AM International – Singapore, announced its first quarter results for FY2023 today.
Financials:
TPL posted an increase of about 28% in its revenue in Q1 FY 22-23 over the preceding quarter and EBIDTA lower by 6%. Increase of Crude oil price impacted the cost of Raw materials and Power & Fuel, which resulted in an increase of Total Expenses of about 30% in Q1 FY 22-23 over the preceding quarter.
In comparison to the last quarter of the previous year, PBT and PAT for the quarter are higher by about 11% and 16%.
Financial Performance
(In INR crore)
| Particulars | Stand Alone | ||
| Quarterly | |||
| Q1FY23 | Q1FY22 | Q4FY22 | |
| Revenues | 560.98 | 464.37 | 438.38 |
| EBITDA | 44.01 | 81.21 | 41.47 |
| PBT | 37.44 | 74.09 | 33.79 |
| PAT | 27.55 | 54.64 | 23.85 |
Other information:
The Board has decided to hold the annual meeting of the shareholders on 29th September 2022 through virtual mode.
Leadership Comment:
Mr. Ashwin Muthiah, Vice Chairman – TPL and Founder Chairman,
AM International, Singapore said: “In spite of the current geopolitical volatility and resultant hike in input costs, TPL has been able to demonstrate revenue growth. We are committed to serving our customers with minimum disruption with a value-added approach. As a company, we remain focused on working towards carbon neutrality and introducing eco-friendly technology and processes in our manufacturing plants.”
Mr. Muthukrishnan Ravi, CEO, Petrochemicals Division of AM International group said that TPL, “ With a 28% increase in topline, we have been able to protect and grow our market share in a disciplined manner. With the severe hike in raw material costs, we are continuously working towards bettering our operational costs. As a result, we hope to improve our margins in the future.”
