BASF India posts 5% sales rise in Q2 FY'12

The Company’s profit before tax (before exceptional item) stood at Rs 504 million for the quarter ended September 30, 2012 as compared to Rs. 506 million for the corresponding quarter of previous year.

Subsequent to the Company’s decision to shut down the EPS business in India, including the Styropor Production at Thane, an amount of Rs. 89 million has been provided in respect of net fixed assets of EPS business as exceptional item during the quarter ended September 30, 2012.  After this provision, Profit Before Tax (after exceptional item) stood at Rs. 415 million for the quarter ended September 30, 2012. Profit after tax stood at Rs 281million for the quarter ended September 30, 2012 as compared to Rs 342 million for the corresponding quarter of the previous year.

“We achieved moderate growth in sales in the second quarter of 2012,” said Mr. Prasad Chandran, Chairman & Managing Director, BASF India Limited. “Performance Chemicals and Polyurethanes continued to drive sales growth,” he added.

For the half year ended September 30, 2012, the Company registered sales of Rs. 22,985 million as compared to Rs. 19,743 million for the corresponding period of the previous year, representing an increase of 16% on a comparable basis.

Profit Before Tax (after exceptional item) stood at Rs. 1,478 million for the half year ended September 30, 2012 as compared to Rs. 1,287 million for the corresponding period of previous year, an increase of 15%.

Profit After Tax (after exceptional item) stood at Rs. 998 million for the half year ended September 30, 2012 as compared to Rs. 869 million for the corresponding period of previous year, an increase of 15%.

For more than a century, BASF has been partnering India’s progress with its vast knowledge in the field of chemistry and high quality products that cater to a wide range of industries.

BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas.

BASF India Limited