Consumption of raw materials improves - IPCL

16 Jan '07

3 min read

Operating profit before other income increased by 29% to Rs 1,877 crore (US$ 424 million) as compared to Rs 1,460 crore in corresponding previous period, mainly on account of higher selling prices, lower other expenditure, partially offset by higher consumption cost of raw materials.

Other income for the nine months increased to Rs 254 crore (US$ 57 million) as compared to Rs 110 crore for the corresponding previous period, primarily on account of income from investment of surplus funds.

Interest expenditure including finance charges on leased assets increased by 14% to Rs 120 crore (US$ 27 million) primarily on account of adverse exchange difference. Finance charge on leased assets was Rs 50 crore (US$ 11 million) compared to Rs 53 crore in the corresponding previous period.

Depreciation for the nine months was Rs 411 crore (US$ 93 million) compared to Rs 426 crore in the corresponding previous period. The decrease in depreciation was primarily on account of written down value method being followed for certain assets.

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Indian Petrochemicals Corporation Limited

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