BASF India Ltd has reported total income of Rs.3016.29 crores during the period ended June 30, 2021 as compared to Rs.2809.8 crores during the period ended March 31, 2021.

The company reported total income of Rs.1789.48 crores during the period ended June 30, 2020.

BASF India has posted net profit of Rs.197.28 crores for the period ended June 30, 2021 as against net profit of Rs.55.81 crores for the period ended March 31, 2021.

The company posted net loss of Rs.(31.18) crores for the period ended June 30, 2020.

 “We saw a strong start to FY 21-22 and the Company recorded growth in revenues and margins compared to the corresponding quarter of previous year, which was impacted by the COVID-19 induced lockdown. The intense second wave of the pandemic led to lockdowns in several states impacting industrial activity and businesses, especially related to the automotive sector. However, the Company managed to outperform the preceding quarter in most business segments aided by enhanced customer engagement and initiatives that enhanced supply chain resilience.” said Narayan Krishnamohan, Managing Director, BASF India Limited. “Ongoing focus on margin improvement and cost management delivered substantially increased profits,” he added.

Digital outreach for products from the Agricultural Solutions segment helped increase their visibility and demand. The Industrial solutions and Materials segments delivered strong growth in revenues and results with increase in volumes and prices realizations.

The intense second wave of the pandemic had a significant impact on the health of the people, businesses, and economy. During this time, the Company offered innovative chemistry in the form of molecular sieves to enhance the generation of medical grade oxygen in the country. Additionally, the Company donated life-saving medical equipment like oxygen cylinders and oxygen concentrators to augment the medical infrastructure in the vicinity of our facilities.

The financial results of the company for the quarter ended June 30, 2020 have been restated to include results of erstwhile BPPIPL (BASF Performance Polyamides India Private Limited), which was merged with the Company effective February 1, 2020.