Chennai: Petrochemicals manufacturer Tamilnadu Petroproducts Ltd reported a standalone profit after tax of Rs 10.31 crore for the October-December 2024 quarter, driven by efficient cost management and improved realisations, the company said on Wednesday.
The Chennai-based company, a leader in the production of industrial intermediate chemicals and chlorine, had recorded a profit after tax of Rs 2.44 crore during the corresponding quarter of the previous year.
Standalone revenue for the October-December 2024 quarter grew to Rs 465.13 crore from Rs 351.98 crore in the year-ago period.
In a statement, Tamilnadu Petroproducts Ltd said its operating performance reflected optimal production, efficient cost management, and improved realisations in the current competitive environment.
The company incurred Rs 86 lakh in material damage and plant restoration expenses during the quarter under review, following the impact of Cyclone Michaung in December 2023.
"Our Q3 results reflect revenue growth and increased profitability despite macroeconomic challenges. This performance stems from optimal production planning and efficient cost management," TPL Vice Chairman Ashwin Muthiah said.
"We remain committed to sustainable manufacturing practices," he added, commenting on the company’s financial performance.
At the board meeting held on February 4, the company announced the elevation of Whole-Time Director (Operations) D Senthi Kumar to Managing Director with immediate effect.
The board also appointed Manish Nagpal as an additional director under the non-executive, non-independent category and named C Parthiban as the Chief Financial Officer, effective February 12, the release added.