BASF India registers Rs 2,484.4 M in profit in Q1 FY 2021-22

Registered sales of Rs 30,129.2 million

Image credit: Shutterstock

Image credit: Shutterstock

BASF India has registered sales of Rs 30,129.2 million for the first quarter ended June 30, 2021, as compared to Rs 17,864.9 million in the corresponding quarter of the previous year, representing an increase of 69 per cent.

 

The company has reported a profit (before exceptional items) of Rs 2,484.4 million as compared to a loss (before exceptional items) of Rs 406.9 million in the prior-year quarter.  

 

“We saw a strong start to FY 21-22 and the company recorded growth in revenues and margins compared to the corresponding quarter of the previous year, which was impacted by the COVID-19 induced lockdown. The intense second wave of the pandemic led to lockdowns in several states impacting industrial activity and businesses, especially related to the automotive sector. However, the company managed to outperform the preceding quarter in most business segments aided by enhanced customer engagement and initiatives that enhanced supply chain resilience,” said Narayan Krishnamohan, MD, BASF India.

 

Digital outreach for products from the agricultural solutions segment helped increase their visibility and demand. The industrial solutions and materials segments delivered strong growth in revenues and results with an increase in volumes and prices realisations.

 

Additionally, the company donated life-saving medical equipment like oxygen cylinders and oxygen concentrators to augment the medical infrastructure in the vicinity of our facilities.

 

The financial results of the company for the quarter ended June 30, 2020, have been restated to include results of erstwhile BPPIPL (BASF Performance Polyamides India Private Limited), which was merged with the company effective February 1, 2020.

 

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