Wednesday, April 16, 2008

BASF net up 20.16% in Mar`08 qtr

BASF India announced a good increase in standalone net profit for the quarter ended March 2008. During the quarter, the profit of the company rose 20.16% to Rs 44.10 million from Rs 36.70 million in the same quarter last year. The company posted earnings of Rs 1.56 a share during the quarter, registering 20.00% growth over prior year year period.

Net sales for the quarter rose 20.32% to Rs 1,933.60 million, while total income for the quarter rose 20.35% to Rs 1,944.60 million, when compared with the prior year period.

During the quarter the company reported a fall in operating margin by 7.80 basis points to 5.07% on higher production cost. On the other hand, there has been decreased of 35.00% in interest charge to Rs 2.60 million and increased of 38.22% in depreciation charge to Rs 35.80 million over previous year period.

The company, a subsidiary of Germany-based BASF (Q, N,C,F)* Aktiengesellschaft, manufactures and markets agrochemicals, industrial performance products, plastics and fibers. It operates in four segments - agricultural products and nutrition includes agrochemicals like pesticides and herbicides; performance products includes tanning agents, leather chemicals, textile chemicals, dispersions and specialty chemicals; plastics and fibers includes expandable polystyrene, engineering plastics and polyurethane business; chemicals includes inorganic chemicals, intermediates and petrochemicals; others include technical fees and research and development projects.

Shares of the company were last trading up Rs 6.75, or 3.31% at Rs 210.5. The total volume of shares traded at the BSE was 62,853. (1.09 p.m, Wednesday).

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