BASF India Reports 10% Increase in Sales in FY18
BASF India Ltd. has registered sales of Rs. 55,834-mn for the financial year ended March 31, 2018, representing an increase of 10% over the previous year. The company reported Profit After Tax (after exceptional items) of Rs. 2,465-mn as compared to a Loss After Tax (after exceptional items) of Rs. 141.3-mn in the previous year.
“Our measures to grow above the market and to boost operational efficiency have resulted in better operating results for BASF India Limited. Recovery of the economy, following demonetization and the implementation of the GST, appears to be robust, and contributed to improved performance,” said Dr. Raman Ramachandran, Chairman and Managing Director, BASF India Ltd.
For the quarter ended March 31, 2018, the company, on a comparable basis, registered sales of Rs. 13,435.6-mn, representing an increase of 5% over the corresponding quarter of the previous year. Net Profit After Tax (after exceptional items) stood at Rs. 659.9-mn for the quarter, as compared to Rs. 425.5-mn 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. 3 per equity share of Rs.10 each for the financial year ended March 31, 2018, subject to shareholders’ approval at the forthcoming Annual General Meeting.
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