BASF India Ltd. (BSE code: 500042) registered sales of Rs. 16,494 million for the quarter ended June 30, 2017, as compared to Rs. 15,126 million in the corresponding quarter of the previous year, representing an increase of 9%.
The company reported profit before tax (before exceptional items) of Rs. 7 million as compared to profit before tax (before exceptional items) of Rs. 83 million in the corresponding quarter of the previous year.
“A good monsoon, enhanced volumes from our Dahej site, and strong performance from our Agricultural Solutions and Functional Materials businesses improved the topline growth of the company. Although profitability was impacted due to margin pressures and certain one-off expenditures, we will continue on our growth path by implementing measures for operational excellence and cost optimization. Regulatory reforms such as GST are expected to support this, especially in the long term. BASF India is well positioned to move forward, with a streamlined business model, and serve customers better,” said Dr. Raman Ramachandran, Chairman and Managing Director, BASF India Ltd.
BASF has successfully partnered India’s progress for more than 125 years, with all global businesses maintaining a presence in India today, except for Oil & Gas. At the end of 2016, BASF in India had 2,356 employees at ten production sites & ten offices, as well as two R&D centers, located in Mumbai and Mangalore. In 2016, BASF registered sales of approximately €1.1 billion to customers in India. Further information is available on the Internet at www.basf.com/in.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 114,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of about €58 billion in 2016. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.