PCBL reports 35% decline in profits; cites Chinese imports

Phillips Carbon Black, India’s largest carbon black maker, reported a fall of 35% in its net profit at Rs 19.64 crore during the third quarter ended December 31, 2011 as compared to Rs 30.03 crore for the same period in 2010. Sales, however, rose to Rs 514.34 crore from Rs 431.61 crore due to higher prices caused by a sharp rise in cost of inputs. The performance was affected due to lower off-take by tire companies and higher imports of carbon black from China at dumping prices. This resulted in lower capacity utilization for PCBL’s new plant in Mundra, which started up in April 2011.

Full results can be found here.