BASF India's net profit surges in Q1
BASF India posted strong first quarter results with net profits zooming up to Rs. 24.4-crore from Rs. 0.68-crore reported in same period last year driven by strong operational performance in agricultural solutions and performance products. Revenue grew by around 8 per cent year-on-year to Rs. 1,627-crore for the quarter ended June 30, 2018.
“A good monsoon led to sales and profit growth in our agricultural business segment. We saw positive volume growth in multiple business units, however crude oil and exchange rate volatility impacted our margins in certain business divisions. We aim to continue our profitable growth by implementing measures for resource optimisation, portfolio management and operational efficiency,” said Dr. Raman Ramachandran, Chairman and Managing Director, BASF India Ltd.
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