Bengal Chemicals FY19 profit jumps 150% to Rs 25 crore
13 May 2019
Almost written off as a sick company, the 118-year-old Bengal Chemicals & Pharmaceuticals Ltd. (BCPL) closed FY19 with a total income of Rs 119.7 crore against Rs 94.8 crore the previous year. Profit stood at Rs 25.3 crore against Rs 10.1 crore in 2017-18.
BCPL’s improved operational performance and reduced finance costs enabled it to turn in better results, P.M. Chandraiah, director, finance, and officiating managing director, said.
It paid off Rs 28 crore in bank loans between 2016-17 and 2017-18 and an Rs 18 crore government loan over two years till 2018-19. “We are now hoping to make it to the list of top 100 PSUs in 2018-19,” he said. The ranking, by profit, is among the top 400 PSUs (including subsidiaries).
BCPL, whose debt stands at Rs 115 crore, is aiming to become debt-free by 2022, the firm said.
The company was founded by Acharya Prafulla Chandra Ray in 1901. BCPL was the first Indian company to make chemicals, drugs, pharmaceuticals, and home products.
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