Mumbai, India -- BASF India Limited posted sales of INR 55.8bn ($831 m) in 2018, up 10% on 2017.
The company recorded a profit in India of INR 2.5bn compared to loss of INR 141.3m in 2017.
BASF said it had improved performance through improving operational efficiencies and economic recovery. This follows demonetisation and implementation of GST in 2017.
'Recovery of the economy, following demonetisation and the implementation of GST, appears to be robust, and contributed to improved performance,' said Raman Ramachandran, chairman and managing director.
In the first quarter of 2019, BASF India increased sales by 5% to INR 13.4bn, and made a profit of INR 660m.
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