Kolkata (West Bengal) [India], June 23 (ANI): Phillips Carbon Black Ltd, a part of RP-Sanjiv Goenka Group, on Tuesday posted a net profit of Rs 72 crore during the quarter ended March (Q4 FY20) compared to a profit of Rs 74 crore in the corresponding period of previous year.

The company recorded a profit of Rs 283 crore in FY20 from Rs 388 crore in FY19.

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"The profitability was in the backdrop of the continued global recession in the automobile industry further aggravated by Covid-19 pandemic," it said in a statement.

Phillips Carbon is looking to expand capacity at Palej plant in Gujarat by 32,000 tonnes and is progressing strategically. The company expects this to be commissioned by Q3 FY21.

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Phillips Carbon is the largest carbon black producer in India. It also manufactures customised blacks for specialised applications and specialty blacks for non-rubber applications such as films, pipes, automotive, fibre and ink.

Rubber black is a major reinforcing filler used in rubber compounds. The enhancement in rubber properties is a function of the fundamental physical and chemical characteristics of carbon black.

(ANI)

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