Riding on the back of higher demand and lower cost, Phillips Carbon Black Ltd has posted a 407 per cent rise in net profit at Rs 48.16 crore for the quarter ended June 30, 2017. The net profit was Rs 9.50 crore during the same period last year.

According to Sanjiv Goenka, chairman, Phillips Carbon Black, the company would invest Rs 300 crore on brownfield expansion.

The additional capacity of 80,000 tonnes per annum to be added at Palej and Mundra in Gujarat would be ready by the end of FY19.