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Phillips Carbon Black Ltd has reported a 240 per cent rise in standalone net profit to over ₹17 crore for the quarter ending December 31, 2016, against the ₹5-crore it reported in the year-ago period. Its PBT stood at about ₹42 crore for the Q3 FY-17 against ₹14 crore in the year-ago-period.
According to a notification to the bourses, the company said it is currently under Minimum Alternate Tax (MAT) and is therefore subject to a tax rate of 21.35 per cent on Profit before Tax.
“The extraordinarily high tax financials reflect deferred tax adjustment which do not have any cash flow impact,” it further stated. During the quarter under review, the company’s total income from operations rose by 5.5 per cent to ₹539 crore (₹511 crore).
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