By: ICN Bureau
Last updated : March 06, 2018 8:18 pm
Q2 net sales at Rs. 1457.52 crores as against Rs. 1401.90 crores for the same period last year
BASF India has reported net sales of Rs.1457.52 crores during the period ended September 30, 2017 as compared to Rs.1401.90 crores during the period ended September 30, 2016. The company has posted net profit of Rs.172.91 crores for the period ended September 30, 2017 as against net loss of Rs.(19.39) crores for the period ended September 30, 2016.
The company has reported net sales of Rs.3107.24 crores during the 6 months period ended September 30, 2017 as compared to Rs.2919.93 crores during the 6 months period ended September 30, 2016.
“New product launches in our Agricultural Solutions business and volume growth in other segments contributed to improved topline growth and profitability. Our recently announced plans to expand the manufacturing capacity of Cellasto® and cease thermoplastic polyurethane (TPU) manufacturing at the Dahej site in Gujarat, demonstrate how we optimize our manufacturing assets to meet the needs of the market and customers,” said Dr. Raman Ramachandran, Chairman and Managing Director, BASF India Limited.
The decision to cease TPU production has resulted in a write down of the assets, which has been disclosed as exceptional item for Q2 FY 2017-18.