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Chemicals maker BASF India posted a 14.2 per cent drop in second-quarter profit on Tuesday, hurt by higher input costs amid the Middle East crisis.
Net profit fell to Rs 128 crore ($15.2 million) for the three months ended Sept. 30, from Rs 149 crore a year earlier.
The Indian arm of Germany's BASF saw its revenue from operations rising 14.5 per cent to Rs 4,211 crore.
However, its expenses surged 16 per cent to Rs 4,095 crore, owing to a 38 per cent rise in input costs.
Key context
The materials segment of BASF India, which comprises of its performance materials & monomers businesses used in segments such as transportation, appliances and footwear, reported a 27 per cent rise in revenue.
The agriculture solution segment, which includes insecticides, herbicides, fungicides among others, grew nearly 6 per cent.
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Analysts have also flagged that chemical companies could face higher expenses due to an increase in container and freight costs amid the Middle East crisis.
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