IPCL net perks up 133% to Rs 189 cr

BS 200 SCORECARD

Indian Petrochemicals Corporation (IPCL) today recorded a 133 per cent increase in its net profit to Rs 189 crore for the third quarter ended December 2004 compared with Rs 81 crore in the corresponding quarter of the previous year.

However, its net turnover dipped by 30.6 per cent to Rs 1,927 crore compared with Rs 2,778 crore in the same quarter of the previous fiscal.

During the quarter under review, depreciation stood at Rs 115 crore, while interest outgo was Rs 16 crore. For the nine months ended December 31, 2004, IPCL's net profit was up 159 per cent at Rs 450 crore against Rs 174 crore in the same period of previous fiscal.

The company's production was up by 9 per cent from 3.53 million tonne to 3.83 million tonne. Exports of manufactured products stood at Rs 938 crore compared with Rs 432 crore for corresponding period ended December 2003, an increase of 117 per cent.