BASF India’s Q1 FY 2021-22 profit hits Rs 2,484.4 Mn

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. It saw a strong start to FY 21-22 and recorded growth in revenues and margins compared to the corresponding quarter of the previous year, which was impacted by the COVID-19 induced lockdown. However, 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.