ICI posts Rs 20.57 cr PAT in Q2

Kolkata, Oct 26: Kolkata-based ICI India Ltd today posted a net profit after tax of Rs 20.57 crore for the quarter ended September 30, where as the same was at Rs 15.44 crore for the corresponding quarter last year.

Total income (net of excise) stood at Rs 247.69 crore for the second quarter this fiscal as against Rs 231.95 crore during the same quarter in 2005-06, the company informed the Stock Exchange.

The company said that the figures for second quarter in 2006-07 were not comparable with those for Q2 of the previous fiscal on account of divestment of rubber chemicals business in December 2005, and exclusion of Uniqema business results from September 2, 2006.

At a meeting held today the board of directors has recommended a proposal to merge ICI India's subsidiary Quest International India Ltd with the company, subject to necessary approvals, the company added.

ICI India manufactures and markets paints, speciality chemicals, catalysts, rubber chemicals and adhesives.

UNI