IG Petrochemicals Limited (IGPL), one of the largest producers of Phthalic Anhydride (PAN), announced its financial results for Q1 ended 30th June 2007.
I G Petro reported a turnover of Rs. 152 crores and net profit of Rs. 10.05 crores for Q1 as against turnover of Rs. 125 crores and net profit of Rs. 5.39 crores during the corresponding quarter last year.
Turnover has increased by 22% and net profit by 88%. The increase in turnover and net profit can be attributed to the following factors:
" Higher demand for PAN
" PVC manufacturing
" Resins industry
" CPC industry
" Efficiency in operations
" Reduction of cost due to implementation of Six Sigma