Petrochemical manufacturer Manali Petrochemicals Ltd has reported standalone profit after tax at Rs 71.94 crore, the company said on Thursday.

The city-based company, part of the AM International, Singapore had clocked standalone PAT at Rs 92.06 crore during corresponding quarter previous year.

For the year ending March 31, 2022 standalone PAT surged to Rs 376.69 crore, from Rs 192.60 crore registered year ago.

The standalone revenues during the quarter under review grew to Rs 366.26 crore, from Rs 336.66 crore registered during corresponding quarter previous year.

For the year ending March 31, 2022 standalone revenues went up to Rs 1,460.54 crore, from Rs 934.75 crore registered last year.

“The company’s annual performance has been one of the best in its entire history. I wish to congratulate the team for its commendable performance despite various geopolitical events and price volatility,” MPL Chairman and AM International founder-chairman Ashwin Muthiah said.

The company would continue its focus on capital expenditure led capacity building and deepening customer relationships, he said.

“Our growth strategy is aligned contributing to India’s Atmanirbhar goal. Our increased focus and investment in research and development, science and technology will help us in our decarbonisation efforts and deliver raw material sourcing efficiencies through alternate energy usage..,” he said. PTI VIJ KH KH

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