BASF India Q1 net profit rises 8%

BASF India has registered significant growth in sales during the quarter ended June 30, 2011 compared to the corresponding quarter of the previous year, with an increase of 54 percent. On a comparable basis (post merger of the three BASF legal entiti

BASF India has registered significant growth in sales during the quarter ended June 30, 2011 compared to the corresponding quarter of the previous year, with an increase of 54 percent. On a comparable basis (post merger of the three BASF legal entities into BASF India Limited) the increase in sales for the quarter ended June 2011 is 17 percent.

The company?s profit before tax grew to Rs. 781 mn for the quarter ended June 30, 2011 as compared to Rs. 736 mn for the corresponding period last year, an increase of 6 percent. Profit after tax at Rs. 527 mn was 8 percent higher compared to the corresponding quarter of the previous year.

"We achieved higher sales in the first quarter of 2011," said Mr. Prasad Chandran, Chairman & Managing Director, BASF India Limited. "With the timely onset of monsoon, sales of agrochemicals picked up. Improved sales in existing lines of business, along with the synergies derived as a result of the merger of the three BASF legal entities, further added to the growth momentum," he concluded.