PCBL Hits 4.9% Fall In Q2 Profit Against Rise In Total Expenses
The Russia-Ukraine war and accompanying inflationary pressures have resulted in increased costs of production for carbon black and a sudden rise crude oil prices. The overall revenue surged by 52.4 per cent to 16.28 billion rupees. This was mostly driven by a 52.2 per cent hike in sales of carbon black, which is utilised in speciality and performance chemicals too
Indian carbon black maker Phillips Carbon Black Limited (PCBL) reported a 4.9% decrease in second-quarter profit on 26 October. The downfall is caused because the higher costs offset robust sales of the tire strengthening the material.
The Russia-Ukraine war and accompanying inflationary pressures have resulted in increased costs of production for carbon black and a sudden rise crude oil prices.
Also, the profit went down to 1.16 billion Indian rupees in the three months ending 30 September from 1.22 billion rupees a year earlier.
The overall revenue surged by 52.4 per cent to 16.28 billion rupees. This was mostly driven by a 52.2 per cent hike in sales of carbon black, which is utilised in speciality and performance chemicals too.
A rise in it total expenses was also witnessed by 61.3 per cent. This was a result of 75.4 per cent hike in cost of materials consumed, lowering the profits.
The last close showed that shares of PBCL surged 15.8 per cent so far this year.