By: ICN Bureau
Last updated : August 11, 2021 11:43 am
The EBITDA for Q1 FY22 was Rs. 112 crore and PAT Rs. 76 crore, against a mere Rs. 3 crore and loss of Rs. 1 crore respectively in Q1 FY21
Manali Petrochemicals Limited (MPL), a leading Petrochemical manufacturing company and part of AM International - Singapore has earned Rs. 283 crore in Q1 FY22, four times higher than Rs. 70 crore in Q1 FY21 which had been badly impacted by the first wave of the pandemic.
The EBITDA for Q1 FY22 was Rs. 112 crore and PAT Rs. 76 crore, against a mere Rs. 3 crore and loss of Rs. 1 crore respectively in Q1 FY21.
Though the revenues and profits during the quarter were lower than the preceding quarter due to the 2nd wave induced lockdowns, the ratio of EBITDA to Revenues improved marginally.
Ashwin Muthiah, Chairman, MPL and Founder Chairman, AM International, Singapore said, "MPL has continued registering higher revenues and margins during the quarter, despite the re-emergence of the pandemic. The team's constant efforts to focus on efficient and profitability oriented growth despite external challenges are critical strengths that should continue in the coming times. I wish the team and their families safe and healthy living as we deal with the pandemic."
Ravi, MD, MPL and CEO, Petrochemicals Division of AM Group said, "During the period most of the end-use units remained closed due to the lockdowns across the country, bringing down the demand for the major products of the Company vis a vis the preceding quarter. However, the global market scenario and logistics issues continuing as before, imports into India were subdued, aiding better realizations."
Manali Petrochemicals Limited is a leading petrochemical manufacturer based in Chennai, India. It markets propylene glycol and polyols. Part of Singapore headquartered USO 2+ billion AM International group, MPL has one Wholly Owned Subsidiary - AMCHEM Specialty Chemicals Limited, Singapore - and two Step Down Subsidiaries (SOS) - AMCHEM Specialty Chemicals UK Limited, UK and Notedome Limited, UK.