Phillips Carbon Black marks clear recovery path

Kolkata, India – Phillips Carbon Black (PCB) has posted revenue from operations of Rs2659.52crores for its fiscal year ended 31 March, a decline of 18.0% on the group’s prior-year sales of Rs 3243.54crores

However, profit before tax at the group came in at Rs390.36crores, 11.3% higher than the Rs350.84crores recorded for the previous financial year, the RP-Sanjiv Goenka Group subsidiary reported 21 April.

Revenue from carbon black operations reached Rs2,592.27crores, 17.9% down on the prior-year Rs3,157.06crores, added PCB – India's largest supplier of the product, largely used as a rubber reinforcement additive.

Profit before interest and tax from carbon black operations came to Rs494.60crores, 5.7% above the level of Rs467.82crores posted a year ago.

PSB’s full-year performance was boosted by a strong fourth quarter, which saw a 23.8% year-on-year rise in net sales to Rs866.73crores – including 24.8% higher carbon black sales, at Rs848.28 crores.

Commenting on the results, PCB said the performance marked a strong recovery from the impact of the Covid pandemic on market demand and its own plant operations during the first half of 2020.