Manali Petrochemicals Ltd on Tuesday reported a consolidated profit after tax of Rs 13.22 crore for the six-month period ending September 30, 2024. The city-headquartered petrochemical manufacturer had registered a profit after tax of Rs 14.97 crore during the corresponding period last year.
For the year ending March 31, 2024, the profit after tax was Rs 19.21 crore.
In a statement, the company said that revenue and margins continued to be affected mainly due to the dumping of imported materials at cheaper prices, coupled with rising raw material costs.
"Although the company has suffered a loss on a standalone basis for reasons beyond its control, the continued operational performance of the overseas subsidiaries helped the company achieve a positive position on a consolidated basis during the quarter under review," the company stated.
The total income for the six-month period ending September 30, 2024, stood at Rs 482.79 crore, compared to Rs 586.41 crore for the year-ago period.