IPCL net profit zooms 215%

BS 200 SCORECARD

Buoyed by higher price realisation, the net profit at Indian Petrochemicals Corporation (IPCL) jumped 215 per cent to Rs 123 crore for the quarter ended June 2004, compared with Rs 39 crore in the same quarter of previous year. Net turnover rose 34 per cent to Rs 1,810 crore compared with Rs 1,355 crore in the same quarter ended June 2003.

Mukesh Ambani, chairman of IPCL said: "We are satisfied with IPCL's strong performance in a quarter in which petrochemical margins have remained robust. We are confident of further improvement in IPCL's operating and financial performance in the future."

Other income, in the quarter under review, stood at Rs 23 crore compared with Rs 21 crore and the interest outgo reduced to Rs 28 crore compared with Rs 61 crore in the corresponding quarter of the previous year.