IPCL Q3 net rises to Rs 405 cr

Mumbai, Jan 15 (UNI) Indian Petrochemicals Corporation Ltd (IPCL) has posted a net profit of Rs 405.0 crore for the quarter ended December 31, 2006, as compared to Rs 289.0 crore for the quarter ended December 31, 2005.

The Company said its total income (net of excise) has increased from Rs 2,836.0 crore for the quarter ended December 31, 2005, to Rs 3,130.0 crore for the quarter ended December 31, 2006.

Commenting on the results, the company's Chairman Mukesh Ambani said, ''I am pleased with IPCL's performance in the third quarter.

Despite a challenging environment, improvement in performance was achieved primarily through better productivity and reduction in costs, thereby enhancing value for our shareholders.'' UNI