Country's largest carbon black maker Phillips Carbon Black Ltd (PCBL) today reported a four-fold jump in first quarter ended June 18' profit to Rs 48.16 crore compared to Rs 9.5 crore profit registered in the same period of last year.
"Higher capacity utilisation, cost rationalisation and speciality carbon attributed to sharp gain profitability," PCBL chairman Sanjiv Goenka said here today.
"Usually, Q3 and Q4 are best quarters. But, given the trend we expect significant rise in bottomline growth for the year," he said.
Capacity utilisation was 98 per cent.
Total revenue for the quarter under review was Rs 638.86 crore as against Rs 479.65 crore registered in Q1 quarter of 2016-17.
Goenka said the company will continue to focus on cost efficiency and was striving to produce higher speciality carbon black for different sectors.
Speciality carbon account for only 20,000 tonne out of 4.8 lakh tonne total capacity. But, the company aims to increase the same to 50,000 tonne depending upon its innovation capability and demand.
Goenka said speciality carbon black offers higher margins.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)