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Tuesday, Oct 29, 2002

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Poor rains hurt BASF's net

Our Bureau

MUMBAI: Poor growth in agricultural products business due to erratic monsoon has affected the second quarter results of chemicals manufacturing company BASF India Ltd. The net profit was marginally lower at Rs 8.49 crore in the quarter ended Septemeber 30, 2002, against Rs 8.94 crore in the corresponding period last year. The quarter has an increase in consumption of raw materials and a higher provision for taxation.

The total turnover, however, grew to Rs 135.92 crore (Rs 132.96 crore). The company earned a net profit of Rs 20.18 crore in the first half of the current year (Rs 20.02 crore). The total turnover stood higher at Rs 301.46 crore (Rs 284.85 crore). — Our Bureau

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