KOCHI: For the first time in its 68-year history, the Travancore Cochin Chemicals Ltd (TCCL) has cleared its accumulated losses and posted a profit.Owned by the state government, the public sector undertaking reported a record turnover of Rs 241 crore, netting a Rs 32 crore profit in the 2017-18 financial year. It also started exporting caustic soda to African countries from November last year.
Established in 1950, TCCL had an accumulated loss of Rs 25 crore in 2015-16 financial year, while in 2016-17, it reported a profit of Rs 6 crore. This soared to Rs 32 crore in 2017-18, helping it wipe off its accumulated loss.TCCL managing director K Harikumar told reporters on Wednesday the firm adopted effective expense management practices, ensured maximum capacity utilisation and explored market possibilities to reach out to customers.
“The state government’s proactive approach also helped us remove the restrictions on purchasing power from outside. We saved Rs 1.5 crore on power purchases,” he said. Buoyed by the achievement, TCCL has launched a medical insurance scheme for its 250-odd retired employees who contributed to its success.
“In 2017-18, the company exported 630 tonnes of caustic soda to African countries like Nigeria and Tanzania. We could earn $4.18 lakh, which amounts to Rs 2.7 crore. In the current financial year, we exported 150 tonnes of caustic soda,” said Harikumar.