Chennai, India — Manali Petrochemicals, which makes polyols and owns system house Notedome, suffered a 21% fall in EBITDA in the first quarter of 2019.
Consolidated sales were INR 2bn ($2 8m)the first quarter of 2019, higher by 1% than the same period in 2018.
But EBIT across the business fell 21% and hit INR 250m between the first quarter of 2018 and the same period in 2019.
Manali said consolidated turnover improved, ‘but due to market conditions, the product margins were impacted.’
Ashwin Muthia, is the company’s chairman. He said: ‘In spite of macro-economic challenges, MPL could improve its total revenue. The management is taking steps to better the margins. We expect there will be improvements in the coming months.’
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|Manali Petrochemicals numbers Q1 2019 ( INR m)|