India's PCBL posts 4.9% fall in second-quarter profit on rise in total expenses

PCBL Chemical

26/10/2022 10:05

BENGALURU, Oct 26 (Reuters) - Indian carbon black maker
PCBL Ltd  PCBL.NS  reported a 4.9% fall in second-quarter profit
on Wednesday, as higher costs offset robust sales of the tire
strengthening material.
    A spike in crude oil prices following the Russia-Ukraine war
and accompanying inflationary pressures have resulted in
increased costs of production for carbon black.
    Profit fell to 1.16 billion Indian rupees in the three
months to Sept. 30 from 1.22 billion rupees a year earlier.
 urn:newsml:reuters.com:*:nFWN31R10Q     
    Overall revenue rose 52.4% to 16.28 billion rupees, driven
by a 52.2% jump in sales of carbon black, which is also used in
speciality and performance chemicals.
    However, a 61.3% rise in total expenses, driven by a 75.4%
jump in cost of materials consumed, weighed on profits.
    PBCL shares jumped 15.8% so far this year, as of last close.
 (Reporting by Atreya Raghavan in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Atreya.Raghavan@thomsonreuters.com; +918527959656;))