Balaji Amines net profit up by 30% in Q1

MUMBAI: Balaji Amines engaged in manufacturing speciality chemicals posted 30.68 percent jump in net profit at Rs 9.37 crore for the quarter ended 30 June against Rs 7.17 crore in the corresponding period last year.

The company recorded its net sales at Rs 136.55 crore for the quarter, up from Rs 114.08 crore in the year-ago period, a company statement said here.

Exports during the reporting quarter went up by 35.11 percent from Rs 23.10 crore to Rs 31.21 crore, it said.

"With the expansion and diversification plans on schedule, this year holds a lot of promise for the company and we expect that to translate into better numbers," Balaji Amines director, D Bala Reddy said.

The company said that its new plant for manufacture of methylamines with 30,000 TPA which was commissioned in March 2012 is operating as planned.