Aditya Birla Chemicals Q2 Net soars 85 pc

Aditya birla Chemicals Ltd today reported 85 per cent jump in standalone net profit at Rs 19.93 crore for the quarter ended September, 2015.
Its net profit stood at Rs 10.76 crore in the year-ago period, Aditya Birla Chemicals India Ltd (ABCIL) said in a filing to the BSE.
Total income from operations rose by 5 per cent to Rs 306.63 crore during the second quarter of this fiscal from Rs 292.23 crore in the corresponding period of the previous year.
In February this year, Grasim Industries, an Aditya Birla Group firm, had announced merger of Aditya Birla Chemicals with the company. The swap ratio approved by the Board is 1 share of Rs 10 each of Grasim for every 16 shares of Rs 10 each of ABCIL.

Giving update on the merger, Aditya Birla Chemicals informed BSE that the approval of the amalgamation scheme by the Jharkand High Court is under process.
ABCIL is one of the leading chlor-alkali companies in India with three manufacturing plants located at Rehla (Jharkhand), Renukoot (UP) and Karwar (Karnataka) with an installed capacity of 2,93,000 tonnes of caustic soda per annum and 110 MW of captive power plant.