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BASF India shares hit a new high of Rs 3,795.45 as they rallied 12 per cent, gaining 33 per cent in the past two trading days on reporting a net profit of Rs 197.28 crore for the June quarter (Q1FY22). It had posted a net loss of Rs 31.18 crore in Q1FY21 and a profit of Rs 55.81 crore in Q4FY22.
The company’s revenue from operations grew 69 per cent year-on-year (YoY) and 7.4 per cent QoQ at Rs 3,012.90 crore during the quarter under review, on account of higher volumes and better price realization. Most business segments of the company, including agricultural solutions, features focused on the automotive industry and industrial solutions and surface technologies delivered profitable growth.
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BASF India, a 73.33 per cent subsidiary of BASF SE, is the flagship company of the BASF group in India. The portfolio of BASF SE is organized under six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions.
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