BASF India Limited Reports Positive Third-Quarter Results
January 22, 2010
MUMBAI, India – For the third quarter ended Dec. 31, 2009, BASF India Limited has reported sales of Rs. 2,882 million, a rise of 40 percent over the corresponding period in the previous year. For the same period, the company’s profit after tax (PAT) increased to Rs. 112 million.
"There are clear signs of the economy stabilizing in India,” said Prasad Chandran, Chairman and Managing Director, BASF India Limited. “The third quarter has shown satisfactory results. Improved demand from end-use industries and our continuous focus on cost efficiency helped us capture the benefits of this demand."
For the nine-month period ended Dec. 31, 2009, sales increased by 14 percent to Rs. 10,366 million as compared to Rs. 9,098 million for the corresponding period in the last year. The Performance Products and Plastics segments were the volume drivers.
Profit before tax (PBT) rose to Rs. 167 million for the quarter ended December 2009, as compared to Rs. 14 million recorded in the corresponding period of the previous year. For the nine-month period ended Dec 31, 2009, the PBT stood at Rs. 1,307 million, an increase of 32 percent over the corresponding period in the previous year.
For the quarter, the company’s profit after tax (PAT) surged and stood at Rs. 112 million, compared to Rs. 4 million in the same period of the previous year. For the nine-month period ended Dec. 31, 2009, PAT rose by 36.6 percent to Rs. 863 million.