Clariant Chemicals Q2 net rises 7-fold to Rs 123.99 cr

Company had clocked net profit of Rs 17 crore in the July-September quarter of 2012-13 fiscal

Clariant Chemicals today reported over 7-fold increase in net profit at Rs 123.99 crore for the second quarter ended September, 2013-14 on account of sale of textiles chemicals, paper specialities and emulsions businesses.

The company had clocked net profit of Rs 16.75 crore in the July-September quarter of 2012-13 fiscal.

Total income of the company during Q2, 2013-14 increased to Rs 355.21 crore from Rs 272.78 crore in the same period last fiscal, the company said in a BSE filing.

The company reported profit of Rs 126.73 crore on account of the sale of its textiles chemicals, paper specialities and emulsions businesses to Archroma India, which it sold for Rs 209.15 crore, according to the filing.

Clariant Chemicals (India) is part of Swiss speciality chemical giant Clariant AG and has production facilities for manufacturing textile chemicals, paper specialities and emulsion products at its Roha (Maharashtra) plant.

The company is also into leather services, industrial and consumer specialities, additives and pigments.

The company scrip closed nearly flat at Rs 558.85 on the BSE.