Clariant Net Stays Flat At Rs 5.72 Cr

Mumbai, October 24: | Updated: Oct 25 2002, 05:30am hrs
Clariant (India) has posted a 1.24 per cent increase in net profit to Rs 5.72 crore for the quarter ended September 2002 as compared to Rs 5.65 crore in the corresponding quarter last year. Net sales including excise duty grew by 12.16 per cent to Rs 84.55 crore (Rs 75.38 crore), a Clariant release said.

The marginal growth in bottomline was attributed to the rising prices of certain raw material and components coupled with appreciation of European currencies over Indian rupee, the release said.

The rising prices of raw materials also seems to have taken a toll on the margins with the operating margin declining by 100 basis point to 11.53 per cent from 12.53 per cent over the corresponding quarter, analysts said. During the quarter under review, domestic sales grew by nine per cent while exports registered a growth of 20 per cent. For the six month period ended September 2002, the company posted a net profit of Rs 10.83 crore (Rs 10.67 crore). Turnover grew to Rs 159.95 crore (Rs 148.34 crore).