Ciba India's annual op profit flags despite better Q4

25 June 2007 15:50  [Source: ICIS news]

MUMBAI (ICIS news)--Ciba Specialty Chemicals (India) Ltd (CSCIL) said on Monday that its operating profit fell 30.7% to Indian rupees (Rs) 426m ($10.4m) in the financial year ended 31 March 2007.

 

The company’s year-on-year net sales declined 18.2% to Rs5.1bn, while its FY 2007 profit after tax (PAT) dropped 37.4% to Rs209m.

 

However, CSCIL’s net profit rose a whopping 143% to Rs811m due to an extraordinary income of Rs602m.

 

CSCIL, a subsidiary of Ciba Specialty Chemical, posted a 31.9% rise in its fourth-quarter operating profits to Rs124m despite a 10.9% drop in net sales to Rs1,001m.

 

The Indian major recorded an 80% rise in its fourth-quarter net profit on the back of extraordinary income of Rs54m.

 

($1 = Rs40.59)

 

By: Aarti Kapoor
+65 6780 4359

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