Tamilnadu Petroproducts Q2 standalone net up 8 per cent

Tamilnadu Petroproducts Q2 standalone net up 8 per cent Chennai, Nov 11 (PTI): Manufacturer of industrialchemicals Tamilnadu Petroproducts Ltd on Monday reported aeight per cent rise in its standalone net profit for thequarter ending September 30, 2019 to Rs 20.89 crore.

The city-based company recorded standalone net profitof Rs 19.33 crore during the corresponding quarter theprevious year.

For the half-year ending September 30, 2019 standalone netprofits grew to Rs 39.93 crore from Rs 28.75 crore registereda year ago.

The standalone total income from operations for the July-September quarter rose to Rs 342.15 crore from Rs 336.14 croreregistered the same period last fiscal.

For the six-month period ending September 30, 2019, thestandalone total income grew to Rs 686.54 crore fromRs 613.47 crore registered the same period last fiscal.

Commenting on the financial performance, chairman of thecompany Ashwin Muthiah said, 'TPL's robust results showcasethe company's strategy of operational efficiency andcontinuous cost optimisation.' 'In spite of a tepid topline growth, the profitabilitynumbers are healthy and better...we are optimistic of thecompany's continued performance in a sustainable manner', hesaid. PTI VIJNVG NVG