Tamilnadu Petroproducts Ltd., (TPL) has reported a 14.36% growth in its standalone net profit to ₹11.39 crore for the quarter ended March 31 from the ₹9.96 crore registered during the year-earlier period. Total income rose to ₹334.13 crore from ₹262.68 crore.
In the year, TPL completed the project for conversion of its erstwhile ECH facilities to make propylene oxide. With this, the company has not only attained new capabilities but also brought into use an otherwise defunct facility, which had to be closed down in 2014 due to losses, said Ashwin C. Muthiah, vice chairman, TPL. The board recommended a dividend of ₹1 per share.
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