Petrochemical
Phillips Carbon Black Q2 sales and profit drops
The company has reported total income of Rs.665.37 crores during the period ended September 30, 2020 as compared to Rs.868.61 crores during the period ended September 30, 2019.
- By ICN Bureau
| October 19, 2020
Phillips Carbon Black, a part of RP-Sanjiv Goenka Group and India's largest carbon black manufacturer, yet again reported decline in its second quarter sales, profits due to slowdown in automobile sector.
The company has reported total income of Rs.665.37 crores during the period ended September 30, 2020 as compared to Rs.868.61 crores during the period ended September 30, 2019.
Net profit stood Rs.58.09 crores for the period ended September 30, 2020 as against profit of Rs.77.51 crores for the period ended September 30, 2019.
Phillips Carbon Black has recently formed a new subsidiary, PCBL (TN).
The company is looking to expand capacity at its Palej plant in Gujarat by 32,000 tonnes and is progressing strategically. The company expect this to be commissioned by Q3FY21 while its greenfield project in South India will be “fast-tracked at an appropriate time”, it said few months back.
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