BASF India Q2 Results | Net profit drops 16% to ₹107 crore on lower revenue and EBITDA

Chemical maker BASF India Ltd on Friday (November 14) reported a 16.4% year-on-year decline in net profit to ₹107 crore for the September quarter, compared with ₹128 crore in the same period last year.

Revenue fell 5% to ₹404.5 crore from ₹424 crore a year earlier. EBITDA stood at ₹16.3 crore, down 20% from ₹20.3 crore in the corresponding quarter. EBITDA margin narrowed to 4% from 4.8% year-on-year.

Also Read: BASF India shares surge up to 9% on demerger plans

This week, BASF India announced a tie-up with Clean Max Enviro Energy Solutions to build a 12.21 MW wind-solar hybrid captive power plant to provide renewable energy to meet its growing consumption for its manufacturing sites at Dahej and Panoli.

The captive power project is scheduled to get operational next year and BASF is aiming to maximise the usage of renewable energy at its manufacturing sites in Gujarat.

Shares of BASF India Ltd ended at ₹4,404.70, down by ₹111.80, or 2.48%, on the BSE.