Carbon black maker PCBL Q2 profit flat at Rs 123 cr

Kolkata, Oct 29 (PTI) Carbon black major PCBL Ltd on Tuesday reported a flat growth of profit at Rs 123 crore for the second quarter of the current fiscal, despite a 45 per cent year-on-year jump in revenue to Rs 2,163 crore for the period.
    The company's net profit was around Rs 123 crore in the year-ago period.
    A sharp surge in finance costs, which rose to Rs 119 crore during the quarter under review from Rs 21 crore in the same period last year, along with increased depreciation and amortisation expenses, limited profit growth despite the robust revenue increase, it said.
    PCBL, in a presentation, said, it aims at achieving a capacity of 1 million MTPA within the next two years and is currently evaluating new sites for proposed greenfield expansion.
    Additionally, the carbon black maker has entered into a joint venture agreement with an entity to develop nano-silicon products for use in lithium-ion battery anodes.
    Under this agreement, PCBL will hold a 51 per cent stake.

(This story has not been edited by THE WEEK and is auto-generated from PTI)