Mumbai, Nov 14 (PTI) BASF India today reported aturnaround with net profit of Rs 172.91 crore in the Septemberquarter due to new product launches in agricultural solutionsbusiness and volume growth in other segments.
The company reported net loss of Rs 19.39 crore in thecorresponding period last year.
The company has registered sales of Rs 1,433.2 crorecompared to Rs 1,393.2 crore in the corresponding quarter ofthe previous year, representing an increase of 12 per cent, acompany statement said.
The decision to cease TPU production has resulted in awritedown of the assets, which has been disclosed asexceptional item for the reporting quarter.
For the half-year its sales rose 10 per cent to Rs3,079.7 crore.
"New product launches in our agricultural solutionsbusiness and volume growth in other segments contributed toimproved topline growth and profitability.
"Our recently announced plans to expand capacity ofcellasto and cease thermoplastic polyurethane manufacturing atDahej in Gujarat, demonstrate how we optimise ourmanufacturing assets to meet the needs of the market andcustomers," chairman Raman Ramachandran said. PTI AP BENNRB.
This is unedited, unformatted feed from the Press Trust of India wire.