India’s Atul nearly doubles Q4 operating profits

20 June 2008 12:43  [Source: ICIS news]

MUMBAI (ICIS news)--India's Atul Industries posted a 92.7% year-on-year rise in its operating profit for the fourth quarter ended 31 March to Indian rupees (Rs) 354.2m ($8.2m) from Rs183.8m on Friday.

“The reasons behind our strong profits for the quarter have been due to robust sales, cost-cutting, process efficiency and our focus on products for core areas,” a source from the company told ICIS news.

Fourth-quarter net sales rose 15% to Rs2.6bn from Rs2.2bn, while Atul almost tripled net profit to Rs179.3m from Rs60.3m from the year-earlier period, the company said.

For the full year, the firm’s operating profit was up 10.4% to Rs996.3m from Rs902.2m, while net sales rose 13% to Rs10.1bn from Rs8.9bn and net profit increased 23.7% to Rs366.2m from Rs295.9m, it said.

The firm plans to debottleneck some of its facilities and diversify its portfolio, said Atul Industries business development manager Sachin Chapekar.

($1 = Rs42.91)

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