Business Daily from THE HINDU group of publications
Wednesday, Oct 18, 2006
ePaper
Business Daily from THE HINDU group of publications Wednesday, Oct 18, 2006 ePaper |
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Corporate Results
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Petrochemicals
Our Bureau
Mumbai , Oct. 17 Indian Petrochemicals Ltd has reported a 9.3 per cent increase in net profit for the second quarter ended September 30 at Rs 351 crore (Rs 321 crore). Net turnover rose 18 per cent to Rs 3,048 crore (Rs 2,588 crore). For the half-year ended September 30, net profit rose 10 per cent to Rs 609 crore while net turnover rose 16 per cent to Rs 6,066 crore (Rs 5,209 crore).
Prices strong
During the first half of the year, polymer and fibre intermediate prices remained strong while polyester product prices were lower, said a statement from the company. At the input end, the price of gas supplied to IPCL rose by nearly a third; and overall, raw material consumption costs rose 16 per cent during the half year to Rs 3,225 crore (Rs 2,790 crore). Exports increased 11 per cent, to Rs 754 crore (Rs. 679 crore). The company's stock lost Rs 2.70 from Monday's close of Rs 319.65 on BSE, to close at Rs 316.95 on Tuesday.
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