Net profit of BASF India declined 94.58% to Rs 9.38 crore in the quarter ended September 2018 as against Rs 172.91 crore during the previous quarter ended September 2017. Sales rose 16.48% to Rs 1669.37 crore in the quarter ended September 2018 as against Rs 1433.21 crore during the previous quarter ended September 2017.

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BASF India announced that the Board of Directors of the company at its meeting held on 30 October 2018 have the transfer of the pigment business of the company, to BASF Colours & Effects India, a 100% subsidiary of BASF Colors & Effects GmbH, Germany at a consideration to be determined by an Independent valuer (on a arm's length basis).

All of the BASF's colored and effect pigments portfolio is being bundled under the 'Colors & Effects' brand globally, serving customers across five key industries, including coatings, plastics, printing, cosmetics, andagriculture.

The closing of the transaction is expected in the fourth quarter of 2018 and the pigments business of the Company is proposed to be transferred to BASF Colors & Effects India, effective 1 January, 2019.

India, the pigments business, which forms part of the Performance Products segment, has generated sales of Rs 98 crore for the year ended 31 March 2018.

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BASF India will hold a meeting of the Board of Directors of the Company on 30 October 2018.

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Net profit of BASF India rose 3495.59% to Rs 24.45 crore in the quarter ended June 2018 as against Rs 0.68 crore during the previous quarter ended June 2017. Sales rose 7.49% to Rs 1620.03 crore in the quarter ended June 2018 as against Rs 1507.17 crore during the previous quarter ended June 2017.

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