Phillips Carbon Black incurred Rs 32.91 cr net loss in Q2

KOLKATA: Phillips Carbon Black incurred a net loss of Rs 32.91 crore for the second-quarter (Q2) ended September 30, 2012, as against Rs 20.83 crore net profit clocked in the corresponding quarter previous year.

Net sales of the company was higher at Rs 582.05 crore for the said quarter as against Rs 559.43 crore for the same period last fiscal due to sales price increase on the back of a steep increase in raw material prices.

The board met on Friday to approve the unaudited financial results for Q2 and six months ended September 30, 2012. The company's investor update on the quarter's performance states import of carbon black has increased despite the anti dumping duty on carbon black import.

Going forward, the company expects sales volume to improve in Q3FY13. "Margin in Carbon Black is also expected to improve due to safeguard duty in place and average realisation on power is expected to be in line with Q2FY13," the company said in its investor update.