IPCL posts Q3 net profit of Rs.405 Crores

Indian Petrochemicals Corporation Ltd (IPCL) has announced the following Unaudited results for the quarter ended December 31, 2006:

The Company has posted a net profit of Rs 4050 million for the quarter ended December 31, 2006 as compared to Rs 2890 million for the quarter ended December 31, 2005. Total Income (net of excise) has increased from Rs 28360 million for the quarter ended December 31, 2005 to Rs 31300 million for the quarter ended December 31, 2006.

Commenting on the results, Chairman, Mr. Mukesh Ambani said, "I am pleased with IPCL's performance in the third quarter. Despite a challenging environment, Improvement in performance was achieved primarily through better productivity and reduction in costs, thereby enhancing value for our shareholders".

Source : Equity Bulls

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