Post the announcement of the Q3 numbers, Phillips Carbon share price rallied above 5 per cent to touch the high and low of Rs. 271.70 and Rs 255.95. The stock volume spurted by more than 1.82 times.
RP-Sanjiv Goenka group firm, Phillips Carbon Black, disclosed a 240 per cent rise in standalone net profit to Rs. 17 crore for the quarter ending December 31, 2016, as compared to the Rs. 5 crore it reported in the year ago period. The company said it is currently under Minimum Alternate Tax (MAT) and as a result subject to a tax rate of 21.35 per cent on Profit before Tax.
Phillips Carbon Black registered a PBT of Rs. 42 crore for the Q3 FY-17; as compared to Rs. 14.2 crore in the year ago period. “The extraordinarily high tax financials show deferred tax adjustment which do not have any cash flow impact. During this quarter under review the company’s total income from operations increased by 5.5 per cent to Rs. 539 crore (Rs 511 crore).
The healthy Q3 results was because of the increased operational efficiency across all functions, sales volume growth of 20 per cent in the mentioned quarter and sustained demand growth in domestic market led to higher capacity utilization. In addition, the rising demand for its profitable specialty black business has helped the company to register robust growth.
Infact, the company's specialty black segment continues to stay one of its focus areas having plans for further expansion of product portfolio as well as capacity. The company, with time, is moving up the value chain and its expanding its portfolio of high-performance high-margin grades for both rubber and non-rubber applications.
For further details refer to Phillips Carbon share price history.
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