BASF India Q2 profits up 23%

Mumbai: BASF India has reported sales of Rs 180 crore (previous quarter: Rs 149 crore), an increase of 21 per cent for the quarter ended 30 September 2003 over the corresponding quarter of the previous year.

Profit after tax at Rs 10.4 crore is higher by 23 per cent compared to the previous quarter. Interest costs were lower at Rs 2.8 crore compared to Rs 3.0 crore for the corresponding quarter of the previous year.

"Cost-control measures and employee determination have resulted in better margins even in a difficult business environment," says Prasad Chandran, chairman and managing director, BASF India. "With the Indian economy doing well, we see better prospects for our products."

BASF India is engaged in the business of manufacturing and marketing of Styropor, tanning agents, leather chemicals and auxiliaries, crop-protection chemicals, textile chemicals, dispersions and speciality chemicals.