On July 12, 2023, PCBL shares slipped 4% in early morning trade, a day after the company chronicled a decline in its combined net profit for the June quarter.

The carbon producer’s consolidated net profit for the April-June quarter fell 15% YoY to Rs 109 crore versus Rs 126 crore last fiscal.

Revenue during the quarter under review also skidded over 4% YoY to Rs 1,347 crore, down from Rs 1,409 crore a year ago. The revenue tumbled due to sluggish sales of carbon black during the quarter.

At 09.30 am, PCBL shares were trading 3.70% lower at Rs 162 on the NSE.

Shares of PBCL, a carbon manufacturer, had recorded a 52-week high of Rs 178.30 in the preceding session after it commissioned the first phase of its deliberate 40,000 MTPA speciality chemicals development at its Mudra plant in Gujarat.

The first phase of the brownfield development will see the addition of 20,000 MTPA of speciality chemicals capacity in the aforesaid plant.

Besides, the company commenced procedures in the first phase of its greenfield project in Tamil Nadu during the quarter under review. This phase accounted for a carbon black manufacturing volume of 63,000 metric tonnes out of the proposed capacity of 147,000 metric tonnes.