BASF India reports improved results for 2007-08

Mumbai, Apr 16 (UNI) BASF India Limited today reported an 18 per cent increase in its sales at Rs 1,030.55 crore (Net of excise: Rs 907.20 cr) for 1007-08, with Profit before tax being Rs 93 crore up by 19.1 per cent.

''This increase was mainly on account of higher capacity utilisation, improved operating results of the Agricultural Products, Performance Products and Chemicals businesses,'' BASF India Chairman and Managing Director Mr Prasad Chandran said, in a release issued here.

Profit after tax at Rs 59.37 crore was higher by 18.5 per cent, compared to the previous year.

The Agricultural Products business recorded higher sales and profits during the year, mainly due to higher realisations, marketing initiatives and rationalization measures undertaken during the year and effective working capital management.

The Performance Products segment, which include textiles, dispersions, speciality and leather chemical businesses registered an increase in sales, both in volume and value terms.

Capacity utilisation in all segments of business was higher compared to the previous year. However, margins were under pressure, mainly due to increase in input costs.

The Expandable Polystyrene business registered increase in volume and turnover compared to the previous year. The Chemical business also registered improved results, compared to the previous year.

The export sales at Rs 37.33 cr during the year under report, represented an increase of 16.6 per cent over the previous year.

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