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Manali Petrochemical stated its net profit fell 37% to Rs 10.39 crore in September quarter against Rs 16.6 crore a year ago.
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Manali Petrochemical is padding up to go global with five international application centres and is already in talks with Singapore, Qatar, the US and some western European nations. The listed petrochemicals major, a part of the MA Chidambaram group, will make an investment of Rs 150 crore for the centres through a subsidiary to be set up in Singapore. Muthukrishnan Ravi, managing director, Manali Petrochemicals, said the discussions with authorities in Singapore and Qatar were at an advanced stage.