BASF India sales increase 7% over the previous year
BASF India Limited has registered sales of Rs. 55,257.9 million for the financial year ended March 31, 2017, representing an increase of 7% over the previous year. The Company reported Loss After Tax (after exceptional items) of Rs. 141.3 million as compared to Loss After Tax (after exceptional items) of Rs. 303.7 million in the previous year.
"BASF India Limited showed improved operating results, driven by growth in the Functional Materials and solutions as well as Performance Products divisions, optimization of cost and improved operational efficiency. Increased volumes at the Dahej plant also helped. We are confident that these measures will continue to help improve our performance,” said Dr. Raman Ramachandran, Chairman and Managing Director, BASF India Limited.
For the quarter ended March 31, 2017, the Company registered sales of Rs. 13,941.6 million as compared to Rs. 12,529.3 million in the corresponding quarter of the previous year. Net Profit After Tax (after exceptional items) stood at Rs. 425.5 million for the quarter ended 31 March, 2017 as compared to Net Profit After Tax (after exceptional items) of Rs. 787.6 million posted in the corresponding quarter of the previous year.
In view of the improvement in the operational and financial performance of the company, the Directors have recommended a dividend payment of Rs. 1/- per equity share of Rs.10/- each (i.e. 10%) for the financial year ended 31 March, 2017, subject to shareholders’ approval at the forthcoming Annual General Meeting.