Chennai India — Manali, a polyol producer based in south-east India, generated total net sales of INR 1.7 bn in the third quarter 2019. This is down 15.59% on the same period last year.
Pre-tax profit across the business fell by 42.9 to INR 108.4m in the third quarter of 2019.
The costs of materials used in production dropped from INR 1.3 bn in the third quarter of 2018 to INR 900m in the 2019 quarter. However, the value of inventories increased to INR 255m in the period.
The company is still in negotiations with the local government over the renewal of the lease of the land where its facility is located.
Currency Conversion: XE.com