The Indian arm of Germany’s BASF said its profit rose to 1.49 billion rupees ($17.90 million) in the quarter ended Sept. 30 from 1.13 billion rupees a year earlier.
The German chemicals giant said in a statement on Friday that 2023 earnings before interest and tax (EBIT), adjusted for special items, would fall to between 4.8 billion euros ($5.09 billion) and 5.4 billion, declining further from 6.9 billion in 2022, which was down 11.5% from 2021.
Demand slowdown in Europe is a much bigger worry as we could sense from channel checks across the industry
Force majeure in European Chemicals industry can lead to significant shortfall in range of chemicals
Clean Science and Technology’s progress in capacity addition and product diversification bode well for the company’s future growth
Reduced Russian deliveries have accelerated efforts across German industry to find alternatives to keep factories running and limit the economic cost.