BASF India surges as company swings to profit in Q4

NEW DELHI: Shares of BASF India ended with gains of 3.91 per cent on Wednesday after the company swung into profit in the quarter ending March 31, 2016. The company reported net profit of Rs 77 crore against a loss of Rs 59 crore. The sale of non-core assets contributed Rs 33 crore to the profits of the company in the quarter.

Reacting to the earnings numbers, the scrip gained 8.97 per cent to hit a high of Rs 1,008.10 on the BSE. The stock has gained 4.53 per cent in the year so far and trades with a price-to-earnings ratio of 937.86.

BASF’s income increased by 7.5% at Rs 1,152 crore against Rs 1,072 crore in the corresponding quarter of the previous fiscal.