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IG Petrochemicals’ Q1 net profit declines 60%

04 Aug 2011 Evaluate

IG Petrochemicals has reported unaudited results for the first quarter ended June 30, 2011.

The company’s net profit for the quarter ended June 30, 2011 has declined by 59.60% at Rs 2.04 crore as compared to Rs 5.05 crore for the corresponding quarter last year. Its total income has grown by 18.60% at Rs 195.29 crore for the quarter under review from Rs 164.66 crore for the same quarter last year.

IG Petrochemicals is a dominant player in the domestic Phthalic Anhydride (PAN) industry. IGPL has its manufacturing facilities located at Taloja, Maharashtra with an installed capacity of 1,16,110 metric tonnes per annum (mtpa) as on March 31, 2011.

Peers
Company Name CMP
Godrej Industries 1021.20
SRF 2490.00
BASF India 3411.40
Pidilite Inds. 1470.00
Tata Chemicals 607.90
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