Phillips Carbon Black Limited reports Q2 results; share price closes higher by 2.98 per cent

Philips Carbon Black Limited (PCBL) revealed its September quarter results today.
Profit before taxation for the organization remained at Rs 72.47 crore in Q2FY21, which is 28.9 per cent lesser than the comparing quarter a year ago. Profit after taxation for Q2FY21 remained at Rs 57.55 crore, indicating a YoY lessening of 25 per cent. In any case, the September quarter had seen a critical recuperation from the June quarter, where the profit before tax remained at Rs 2.68 crore and profit after tax remained at Rs 2.31 crore.
Philips Carbon (PCBL) is the biggest maker of carbon black in the nation and one of the biggest parts on the planet with an introduced limit of 5,71,000 MTPA of carbon black.
The official statement additionally expressed that the greenfield project of around 1,50,000 MT for assembling of different evaluations of carbon black and 25 MW of co-generation power over sixty acres of land in Tamil Nadu is advancing deliberately. It is hoped to be commissioned in 2023.
Responding to the declaration of the outcome, the share price shot 2.98 per cent higher today at Rs134.90. Its intraday high was 138, while the intraday low was 133. Since the start of this current year, the stock has outperformed the broader market indices S&P BSE 500. The share has given an arrival of 9.85 per cent as against the arrival of – 2.58 given by S&P BSE 500.