Chemical
BASF India Q2 net profit rises due to exceptional gain
Company reported 18.58% increase in Q2 sales and the revenues reached Rs. 2459.73 crore
- By ICN Bureau
| November 04, 2020
BASF India Ltd has reported 18.58% increase in Q2 sales and the numbers reached Rs. 2459.73 crore versus Rs. 2080.58 in the same period last year.
For the Sep-20 quarter, the operating profits are nearly 4-fold up at Rs. 116.82 crore. This is largely on the back of higher sales and better management of costs in the quarter. This also led to the operating margin expanding from 1.47% to 4.75% in the Sep-20 quarter.
Net profits for Q2 stood at Rs. 412.83 crore as against Rs. 2.32 crore last year, however, this profit is not exactly comparable as it includes most part of the revenues acrued via exceptional item sale.
During the second quarter, the copmany booked a net profit of Rs. 423.60 crore from the sale of its construction chemicals business. This has been entirely accounted for as extraordinary gain in the current quarter, making the profits not comparable.
In terms of the total sales revenues mix of BASF India for the Sep-20 quarter, Nutrition accounted for the largest 25%. Agricultural solutions, materials and chemicals accounted for another 60% jointly. The balance 15% was accounted for by industrial solutions.
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