IPCL Q2 net up 155 per cent

Our Corporate Bureau
19 October 2004

Mumbai: Indian Petrochemicals Corporation Limited (IPCL) has registered a 155.55 per cent jump in its net profit for the second quarter ending September 30, 2004, at Rs138 crore as compared to Rs54 crore in the same period of the previous year.

Net turnover during the period under review was higher by 35.24 per cent at Rs1,819 crore as against Rs1,345 crore in Q2 of FY04.

For the half year ending September 30, the company reported a 180.64 per increase in its net profit at Rs261 crore (Rs93 crore in April-September 2004) while the net turnover stood at Rs3,629 crore (Rs2,700 crore).

Exports also showed an increase of 107 per cent at Rs473 crore as against Rs229 crore in first six months of last fiscal.

During the half year under review, total production volume was 2.59 million tonnes, a 13 per cent rise compared to the corresponding previous period.

Operating margin during this period also improved to 21.5 per cent compared to 19.6 per cent in Q1 of this fiscal on account of higher selling price of products, partly offset by higher price of raw materials Naptha and Propane.