Savita Oil Technologies posts 60% increase in net profit

Mumbai-based Savita Oil Technologies posted a net profit of Rs47.79 crore (US$8.59 million) for the first quarter, which ended on June 30, 2012, up by 60.05% compared to Rs29.86 crore (US$5.3 million) for the same quarter a year ago. Total income reached Rs525.09 crore (US$94.3 million) up by 20.30% compared to Rs436.48 crore (US$78.4 million) in the same quarter in 2011. The company manufactures and distributes various petrochemicals in India. (July 21, 2012)