BASF India Ltd. registered sales of Rs. 20,743.3 million in the second quarter of 2019 which ended on September 30 compared to Rs. 16,755.7 million in the corresponding quarter of the previous year, representing an increase of 24%.
Profit Before Tax (before exceptional items) came in at Rs. 140.8 million, compared to Rs. 118.8 million in the prior-year quarter. An increase in merchandise sales, which was mainly due to a change in the business model from erstwhile agency business, contributed to the increase in the topline result. Subdued demand from automotive and consumer durables focused businesses continued to impact margins.
“By pursuing growth projects with our customers, we overcame the overall slowdown in the manufacturing sector. Our Agricultural Solutions and Nutrition & Care segments saw good growth compared to the corresponding period of last year. A lower demand from the automotive market had an impact on the related businesses. We remain committed to growing faster than the market by working closely with our customers”, said Mr. Narayan Krishnamohan, Managing Director, BASF India Ltd.
For the half-year which ended on September 30, 2019, the company registered sales of Rs. 36,880.8 million, as compared to Rs. 33,026.8 million for the corresponding period of the previous year, an increase of 12%. Profit Before Tax (before exceptional items) stood at Rs. 316.4 million for the half year, compared to Profit Before Tax (before exceptional items) of Rs. 469.6 million for the corresponding period of the previous year. Profit After Tax (after exceptional items) came in at Rs. 105.2 million in the second half of 2019, compared to Profit After Tax (after exceptional items) of Rs. 338.3 million posted in the corresponding period of the previous year.