Manali Petrochemicals Ltd (MPL) has reported a 47 per cent fall in its profit after tax (PAT) at ₹6.05 crore for the quarter ended December 31, 2019, against ₹11.5 crore in the year-ago period.
Its revenue fell to ₹147 crore from ₹179 crore. EBIDT (earnings before interest, depreciation and tax) stood at ₹14 crore (₹20 crore).
“Continued low domestic demand coupled with unabated imports into India has affected the revenues and margins of Manali Petrochemicals. The management team has taken various actions to overcome the hurdles and we are confident that our efforts will bear fruit in the months to come,” Ashwin Muthiah, Chairman, MPL, said in a statement.