Punjab chemicals reports major Q3 net decline

Date:01-24-2009

Agrochemical manufacturer Punjab Chemicals & Crop Protection, which also produces active pharmaceutical ingredients (APIs), intermediates, phosphorous derivatives, and specialty chemicals, announced a 73.89% decrease in its standalone net profit for the third quarter ended December 2008.

During the quarter, the profit of the company declined to US $ 418,000 from $1.6 million in the same quarter last year.

The company experienced a marginal 1.85% decline in net sales to approximately $19.1 million, compared with the prior year period.