Clariant Chemicals posts Rs 166.77 crore net profit in 2013

Clariant Chemicals (India) Ltd today said its net profit jumped to Rs 166.77 crore in 12 months period ended December 2013, as against Rs 101.30 crore in the previous year.
Net profit after tax, including the profit from sale of business, stood at Rs 166.77 crore, said a company statement.
The company recorded a sales turnover (net of excise) of Rs 1,213.20 crore as against Rs 1,071.23 crore in the previous year. Considering the sale of textile, paper and emulsions (TPE) business, effective from Oct 1, 2013, net sales have gone up by 25.3 percent over the previous year, it added.

The Board of Directors have recommended a final dividend of Rs 20 per share (200 per cent), which together with the interim dividend of Rs 10 per share (100 per cent) paid in August 2013, makes a total dividend of Rs 30 per share (300 per cent) as compared to Rs 27.50 per share (275 per cent) in the previous year.
For the quarter ended December 31, 2013, the company posted a net loss of Rs 6.10 crore as against net profit of Rs 22.05 crore in the same period last year. Its sales stood at Rs 270.53 crore, a jump of 50.5 per cent on a like-to-like basis.

However, due to inflation led cost increases, the profit before exceptional items is lower at Rs 4.3 crore, it said.
"We plan to invest in the business to explore new opportunities and improve Clariant in India's profitability to provide value to all our stakeholders," Clariant Chemicals Vice-Chairman and Managing Director Deepak Parikh said.
The company said it is expanding its capacity at its pigment preparations plant at Roha in Maharashtra. It also announced plans to sell its leather services business to Stahl India Pvt Ltd.