BASF India zooms 33% in two days on robust June quarter results

The company reported a net profit of Rs 197.28 crore in Q1FY22 as against a loss of Rs 31.18 crore in Q1FY21

Shares of specialty chemicals company BASF India hit a new high of Rs 3,795.45 as they rallied 12 per cent in Monday's session, gaining 33 per cent in the past two trading days on reporting a net profit of Rs 197.28 crore for the quarter ended June 2021 (Q1FY22) on the back of strong operational performance. It had posted a net loss of Rs 31.18 crore in Q1FY21 and a profit of Rs 55.81 crore in Q4FY22.

The company’s revenue from operations grew 69 per cent year-on-year (YoY) and 7.4 per cent quarter-on-quarter (QoQ) at Rs 3,012.90 crore during the quarter