TPL more than doubles its net profits in Q1FY20
Profits before tax register60% growth
31stJuly 2019, Chennai / Mumbai:
Tamilnadu Petroproducts Limited (TPL), India’s leading manufacturer of industrial chemicals, announced its financial results for Q1FY20 today. The company has posted a 24% increase in its total income during the quarter vis-à-vis the corresponding period in the last fiscal.
TPL posted an impressive increase in its profits during the quarter. The profits before tax (PBT) increased by 60% over the Q1FY19 – from INR 1,533 lakh to INR 2,447 lakh. The profits after tax (PAT) margins expanded by over 100% – from INR 942lakhin Q1FY19 to INR 1904lakh in Q1FY20. The earnings per share (EPS) also doubled to Rs. 2.12 per share. This is the company’s best-ever quarterly performance in the last 15 years.
Consolidated Quarterly Performance:
The above were reflected in the consolidated results, also as shown below.
Financial Results (INR Lakh)
30-06-19 31-03-19 30-06-18
Total Income 34,542 33,493 27,807
Profit before Tax 2,534 1,776 1,598
Profit after Tax 1,991 1,204 1,007
Earnings per share (INR) 2.22 1.34 1.12
Mr. Ashwin Muthiah, Vice Chairman – TPL&Founder Chairman, AM International, Singapore
“TPL has had a strong start to FY20. I want to congratulate the team for its dedication and hard work. The results show that the company has bucked the general trend. This was achieved through our strategy of streamlining operations through prudent inventory management, improving plant efficiency and other cost effectiveness measures. The positive start is encouraging, and we would endeavour to maintain this trend for the rest of the year and continue to deliver value to our shareholders in the remaining quarters.”