Manali Petrochemicals Ltd., reported consolidated net profit for the June quarter grew more than threefold over the year ago period to ₹13 crore.

Revenue from operations contracted by ₹61 crore to ₹240 crore, even as cost of materials declined to ₹162 crore from ₹216 crore, the petrochemicals manufacturer said in a statement.

“Despite facing severe pricing pressures due to external factors beyond our control, our profitability has increased manifold while maintaining similar sales as last quarter,” said Chairman Ashwin Muthiah.

“The encouraging performance of our overseas subsidiaries positions us to introduce their products and services to local markets. Amid ongoing geopolitical conflicts and tensions, we remain cautiously optimistic about our future,” he said.