BASF India Limited reported that its net profit remained flat at Rs 197 crore as revenue increased by 29% to Rs 3,858 crore in Q1 FY23 over Q1 FY22. 

Total expenses during the quarter increased by 31% YoY to Rs 3627 crore, due to higher raw material costs (up 36% YoY), higher cost of stock-in-trade purchases, (up 39% YoY) and higher other expenses (up 73% YoY).

The company reported profit before tax of Rs. 264 crore. Up by 6% for the quarter ended June 30, 2022 as compared to profit before tax of Rs. 248 crore in the prior-year quarter.

“Revenue growth across all business segments enabled the Company to record highest ever quarterly sales, a growth of 29% over the prior year quarter and 15% over immediate preceding quarter. Active price and margin management enabled the company to earn record EBIT before exceptional items despite the challenging environment of higher input costs and volatile commodity prices”, said Narayan Krishnamohan, Managing Director, BASF India Limited.

“New product launches and a high degree of customer engagement enabled the company to gain market share across various segments,” he added.