Bihar Caustic reports satisfactory performance for Q3-FY 2004. Net sales at Rs. 2364.40 lakh, net profit at Rs. 384.31 lakh

5 February, 2004

Bihar Caustic & Chemicals Limited, a subsidiary of Hindalco has reported satisfactory results for the quarter ending December 2003. The Company has achieved net sales of Rs. 2364.40 lakh, an increase of 5.72%, vis-à-vis Rs. 2236.36 lakh attained in the corresponding quarter of the previous year.

Its net profit (after deferred tax) soared by 95.40% at Rs. 384.31 lakh as against Rs. 196.67 lakh for the corresponding quarter last year. This has been driven by higher realizations and an increase in other income due to financial restructuring.

The Company plans to expand its capacity from 54,000 tons per annum to 82,000 tons per annum at a capex of Rs. 110 crores.

Bihar Caustic & Chemicals produces caustic soda, liquid chlorine, hydrochloric acid and sodium hypo chlorite used mainly in the aluminium, paper and steel sectors and for water treatment plants. Among its major customers are Hindalco, TISCO, TELCO, SAIL and NTPCs.