Phillips Carbon Black blames profit fall on Chinese imports

ERJ staff report (DS)

Kolkata, India - Phillips Carbon black reported a healthy increase in sales, but a 31 percent decline in profit for the three motnhs to 31 December 2011. The company said imports from China had affected margins.

Sales for the quarter increased to Rs 5149 million (euro 78.1 million), up from the figure of Rs 4321 million a year ago. Operating profit fell to Rs 335 million, compared with Rs 537 million a year ago, while net profit for the period fell to Rs 195 million from Rs 300 million a year earlier.

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Results statement from BSE stock exchange