BASF India said Tuesday the greenfield chemical production site located at Dahej Petroleum, Chemicals and Petrochemicals Investment Region in Gujarat, will be inaugurated on Oct. 7, 2014 and some of the plants will commence commercial production with effect from today.
The new Dahej site includes an integrated hub for polyurethanes manufacturing and production facilities for care chemicals and polymer dispersions.
Earlier, the company announced a drop in standalone net profit for the quarter ended June 2014. During the quarter, the profit of the company declined 40.16% to Rs 519.80 million from Rs 868.70 million in the same quarter previous year. Net sales for the quarter rose 6.48% to Rs 14,476.00 million, compared with Rs 13,595 million for the prior year period.
Shares of the company gained Rs 36.25, or 2.76%, to trade at Rs 1,349. The total volume of shares traded was 5,716 at the BSE (11.20 a.m., Tuesday).