Revenue Surge But Profits Steady: PCBL Ltd's Financial Rollercoaster

PCBL Ltd reported a flat profit of Rs 123 crore in Q2 despite a 45% revenue increase to Rs 2,163 crore. Finance costs surged to Rs 119 crore, hampering profit growth. The company plans to expand capacity to 1 million MTPA and has a joint venture for lithium-ion battery materials.

PCBL Ltd reported a stable profit of Rs 123 crore for the second quarter of this fiscal year, unchanged from the same period last year. This occurred despite a significant 45% rise in revenue, totaling Rs 2,163 crore.

The primary reason for the stagnant profit was a notable increase in finance costs, which escalated to Rs 119 crore from Rs 21 crore in the year-ago quarter. This hike, coupled with higher depreciation and amortisation expenses, offset the revenue surge, as outlined in the company's report.

On a growth trajectory, PCBL has set its sights on achieving a production capacity of 1 million MTPA within two years, eyeing new sites for expansion. Additionally, they have ventured into a joint agreement to explore nano-silicon products for lithium-ion battery anodes, with a 51% controlling stake.

(With inputs from agencies.)