Clariant Chemicals' net PAT up 638% in Q3 Sales up 30% in Q3

Clariant Chemicals India Ltd has registered sales of Rs 346.7 crores for the third quarter ended September 30, 2013, up 30% compared with Rs 267.1 crores in the corresponding previous year period. For Q3 2013, the company’s net profit after tax was Rs 124.0 crores, as compared to Rs 16.8 crores in the corresponding previous year period.
 
For the nine months ended Sept 30, 2013, sales was up at Rs 942.7 crores from Rs 788.5 crores for the corresponding period of the previous year. The profit (before exceptional items) for the same period stood at Rs 108.7 crores compared to Rs 101.7 crores in the previous year period.  After considering the exceptional items and tax expenses, the net profit for the nine month period amounted to Rs 172.9 crores as against Rs 79.3 crores in the previous year period. 
 
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The exceptional items of Rs 126.7 crores, as of three/nine months ended Sept 30, 2013 is in respect of the profit on sale of businesses of textile chemicals, paper specialties and emulsion.
 
Dr Deepak Parikh, Vice Chairman & Managing Director, Clariant Chemicals India, said, “The growth in sales can be attributed to the renewed focus, direction and execution of our strategy, especially in production turn-around time and emphasis on new business developments.  I am confident it will lead to further positive gains for all of our stakeholders. Our recent Innovation workshops and other customer focused initiatives, are an example of our strategy to closely partner with them and provide tailor-made services that result in a win-win for all.”