Phillips Carbon Q4 PAT drops to Rs 72 crore, to expand Palej plant by 32,000 tonnes

Kolkata (West Bengal) [India], June 23 (ANI): Phillips Carbon Black Ltd, a part of RP-Sanjiv Goenka Group, on Tuesday posted a net profit of Rs 72 crore during the quarter ended March (Q4 FY20) compared to a profit of Rs 74 crore in the corresponding period of previous year.
The company recorded a profit of Rs 283 crore in FY20 from Rs 388 crore in FY19.
“The profitability was in the backdrop of the continued global recession in the automobile industry further aggravated by Covid-19 pandemic,” it said in a statement.
Phillips Carbon is looking to expand capacity at Palej plant in Gujarat by 32,000 tonnes and is progressing strategically. The company expects this to be commissioned by Q3 FY21.
Phillips Carbon is the largest carbon black producer in India. It also manufactures customised blacks for specialised applications and specialty blacks for non-rubber applications such as films, pipes, automotive, fibre and ink.
Rubber black is a major reinforcing filler used in rubber compounds. The enhancement in rubber properties is a function of the fundamental physical and chemical characteristics of carbon black.
(ANI)