Aditya Birla Chemicals Q2 net profit down at Rs 58.96 lakh

MUMBAI: Aditya Birla Chemicals (ABCIL) net profit plummeted to Rs 58.96 lakh in the July-September quarter, from Rs 16.70 crore in the year-ago period.

However, net sales of the company rose more than two-fold to Rs 168.99 crore in the second quarter of 2011-12, it said in a filing to the BSE.

ABCIL, a unit of Aditya Birla Group, had reported net sales of Rs 61.87 crore in the same quarter of the previous fiscal.

The company, in April this year, announced acquisition of chloro chemicals division of Kanoria Chemicals and Industries for Rs 830 crore in an all-cash deal.

ABCIL, formerly known as Bihar Caustic and Chemicals Limited, is a leading chlor-alkali producer and has expanded into manufacturing aluminium chloride and stable bleaching powder.

Shares of the company today closed at Rs 94, down by 3.49 per cent from its previous close at the BSE.