Bayer net rises by 7.43

MUMBAI, MARCH 30: Bayer India has registered a 7.43 per cent increase in net profits at Rs 9.83 crore for the year ended December 31, 1997 as against Rs 9.15 crore in the previous year. The board has recommended a dividend of 25 per cent for the year.Sales and related income for the year rose by 5.78 per cent at Rs 483.37 crore as against Rs 456.95 crore in the previous year.

Profits before tax at Rs 15.24 crore represents an improvement of 3.20 per cent over the previous year.Total expenditure other than interest and depreciation was Rs 436.69 crore as against Rs 409.47 crore in the previous year. Interest and depreciation for the period stood at Rs 27.04 crore and Rs 10.74 crore respectively.A major contribution to the turnover came from the agrochemicals business which registered an impressive growth, inspite of adverse climatic conditions. During the year, new products like Kelthane, an acaricide used for control of mites, a herbicide, Goal, and a fungicide used to control powdery mildew,Karathane.Sales of rubber chemicals in terms of volume grew marginally with export volumes more than doubling.

Value-wise sales were, however, lower and had been impacted by a reduction in import tariffs and a downward trend in international prices which was compounded by a slump in the local user industry.In the field of consumer care products, sales grew both in volume and value.