Chennai, India – Polyols producer Manali pushed its revenue up INR 142 m to INR 1.77 bn ($25.3 m) in in the first quarter of 2018. This compares INR 1.63 bn in in the same period in 2017.
Profit before tax rose over eight-fold to INR 247m in the first quarter of 2018. In the first quarter of 2017 the firm managed to squeeze profit before tax of INR 31m.
A chunk of the 2018 increase came from a change in India’s GST tax between the quarters. This reduced costs by INR 175 m in the first quarter of 2017 to zero in the 2018 quarter.
These numbers are presented in the company’s unaudited standalone financial results for the quarter.