Clariant Chemicals (India) Ltd today said it has posted lower net profit at Rs 24.12 crore in the second quarter ended June 30 from Rs 30.76 crore in the year-ago period.

Net sales in the quarter under review stood at Rs 318.5 crore, up from Rs 282.1 crore in the same period of the last year.

Profit (before exceptional items) in Q2 stood at Rs 35.4 crore, down from Rs 44.1 crore in the year-ago period, the specialty chemicals producer said in a release here.

For the six-month period ended June 30, the firm’s net sales grew 14.3 per cent, from Rs 521.4 crore in the same period last year to Rs 595.9 crore.

Profit after tax stood at Rs 48.9 crore, down from Rs 62.5 crore in the previous year.

“As one of India’s leading specialty chemicals businesses, we are committed to sustainable and innovative growth in India. Our clear priorities for the fiscal year are to add value with competitive and innovative solutions while simultaneously controlling costs,” said Deepak Parikh, Vice-Chairman and MD, Clariant Chemicals.

“The specialty chemicals industry in India is expected to more than quadruple in the next decade and Clariant sees India as a robust market for specialty chemicals. Our half-yearly performance is indicative of our focus and ambition to aggressively expand in this market.”

“We will continue to deliver on our plans to grow organically and inorganically to maximise stakeholder returns,” he added.

Shares of Clariant Chemicals today closed 0.87 per cent down at Rs 500.80 on the BSE.

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