Phillips Carbon Black Ltd today posted a four-fold jump in net profit to Rs 50.78 crore in the quarter ended September from Rs 12.49 crore in the corresponding period a year ago.
Net sales of the carbon black major rose 17 per cent year-on-year to Rs 597.58 crore in the quarter under review.
PCBL Chairman Sanjiv Goenka said the plants registered 99 per cent capacity during the quarter.
Goenka said the company has started work on expanding capacity through a 1.2-lakh tonne per annum greenfield plant, which will be set up in south India.
Andhra Pradesh, Tamil Nadu and Telangana are among the states under consideration for the new unit.
The site will be finalised over the next few months, he said.
The 80,000-tonne capacity brownfield expansion in Palej and Mundra in Gujarat at Rs 300 crore is likely to be complete by the end of FY19, Goenka said.
He said the company will pare the total debt to Rs 700 crore by March 31, 2018 from Rs 1,200 crore at the end of March, 2017.
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