Manali Petrochemicals Ltd (MPL), a part of AM International, has posted a multifold increase in its consolidated net profit for the December quarter at ₹68 crore over the corresponding period last year, driven by steady improvement in operating efficiencies and a measured approach to market demand.
During the quarter under review, revenue from operations stood at ₹247 crore compared with ₹197 crore in the year-ago period.
Net profit included an exceptional item of ₹51 crore on account of the impact of the new Labour Code, receipt of insurance claims, sale of a portion of land, write-off of certain assets no longer in use, and gains on the disinvestment of Notedome Ltd and its subsidiary, Notedome Europe GmbH.
Ashwin Muthiah, Chairman, MPL, and Founder Chairman of AM International, Singapore, said: “Amid continuing macroeconomic uncertainty, MPL’s sustained focus on cost optimisation, product mix, and alignment with market demand has supported its competitiveness this quarter.
“The strong performance of our international subsidiary has further contributed to the results, underscoring the strength of our M&A strategy. Going forward, we remain committed to improving internal operational metrics in a sustainable and disciplined manner,” he said.