BASF India records net loss of Rs 29 cr in Q1 FY21

Date:08-07-2020

BASF India reported a net loss of Rs 29.15 crore in Q1 June 2020 as against net profit of Rs 8.20 crore in the corresponding period last year.

Net sales rose 9.7% to Rs 1,765.98 crore in Q1 June 2020 from Rs 1,609.46 crore Q1 June 2019. Pre-tax loss in Q1 FY21 stood at Rs 37.80 crore as against a pre-tax profit of Rs 11.25 crore in Q1 FY20. The company wrote back current taxes to the tune of Rs 8.65 crore during the quarter.

BASF India is engaged in providing chemicals, plastics, performance products and crop protection products.

The stock slumped 5.50% to Rs 1337.20 on the BSE on Thursday. It traded in the range of 1326 and 1431.45 during the day.