Chennai, India – Polyol producer Manali Petrochemical (MPL) has reported consolidated revenue of INR2.0bn ($23m) for the third quarter of its 2025 financial year, which ended on 31 December 2024. The company said that cost optimisation, product mix and other measures reduced the impact of losses made during the quarter, with profit after tax rising 79% quarter-on-quarter to INR52.7m.
In its quarterly stock filing, the company said that both margin and revenue continued to be affected by imported materials at cheaper prices. The favourable operational performances of its overseas subsidiaries continued to support its financial performance on a consolidated basis, it said.
“Our performance continues to be impacted by macroeconomic challenges, particularly unhindered imports from neighbouring countries, which put domestic industries without tariff protection at a disadvantage,” MPL chairman Ashwin Muthiah said in a statement.
“The focus on cost and operational efficiencies has led to a significant reduction in standalone losses in the quarter,” said R Chandrasekar, the company’s MD and CEO. “Our international subsidiaries have contributed to profitability, and proposed expansion in Asian and Indian markets will further strengthen our portfolio and enhance value.”
The company produces propylene glycol and polyols, with overseas subsidiaries in Singapore, the UK and Germany.
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