ITDL gains as import tariffs kick in
November 21, 2022
Profits were up at ITDL as the impact of domestic import tariffs kicked in.
Sales at Indian toners and Developers rose 18.18% to Rs 39.33 crore ($4.8 million / €4.7 million) in the quarter that ended September 2022 compared to the same period in 2021. Net profits also rose 7.16% to Rs 5.99 crore ($732,000/ €715,000).
In June 2020, Indian authorities imposed tariffs on monochrome toner powder imported from China, Malaysia and Taiwan following a complaint by India’s two leading toner manufacturers, Indian Toners and Developers Ltd and Pure Toners and Developers Pvt. Ltd.
The investigation found that over the period investigated; toner imported from China and Taiwan undercut the domestic market between 0% and 20%. In contrast, toner imported from Malaysia undercut the domestic market by between 40% and 60%.
The taxes vary from country to country, with tariffs for toner from Taiwan, $196 (€175) per metric tonne, China, $834 (€743) per metric tonne and Malaysia, $1,686 (€1,503) per metric tonne.
Categories : City News
Tags : Business Financials India ITDL Tariffs
