By IANS,
Kolkata: Phillips Carbon Black Ltd (PCBL), an RPG Group company, Tuesday reported an 8.2 percent drop in its net profit during the fourth quarter of 2010-11, which stood at Rs.33.29 crore as against Rs.36.26 crore during the corresponding period of the previous financial year.
“The firm’s net sales for the period under review went up 22.1 percent to Rs.444.17 crore, as compared to Rs.362.93 crore during the same period during the last fiscal,” PCBL chairman Sanjiv Goenka said.
The company’s net profit for the financial year 2010-11 also dropped 5.2 percent to Rs.116.28 crore, as against Rs.122.69 crore during the previous financial year.
PCBL’s net sales for the financial year increased by 37.1 percent to Rs.1,690.14 crore, compared to Rs.1,232.57 crore during 2009-10.
Goenka said the company will set up its new carbon black plant in Tamil Nadu.
It will be the firm’s biggest plant, with a capacity of above 1,40,000 tonnes, with an investment of Rs.450-500 crore.
“We are in the process of getting 60 acres of land at SIPCOT Industrial Park for this greenfield carbon black unit.
“The SIPCOT Industrial Park is close to Ennore port and the firm would set up a 20 MW power plant along with it,” Goenka added.