BASF India's net profit remained flat at Rs 197 crore as revenue increased by 29% to Rs 3,858 crore in Q1 FY23 over Q1 FY22.
Total expenses during the quarter increased by 31% YoY to Rs 3627 crore, due to higher raw material costs (up 36% YoY), higher cost of stock-in-trade purchases, (up 39% YoY) and higher other expenses (up 73% YoY).
Profit before tax in Q1 FY23 stood at Rs 264 crore, up by 6% from Rs 248 crore in Q1 FY22. Total tax outgo for the period under review was Rs 67 crore (up 32% YoY).
BASF India is engaged in providing chemicals, plastics, performance products and crop protection products.
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