MUMBAI, Nov 18: The net profit of Indian Petrochemicals Corporation Ltd (IPCL) has dropped to Rs 142.19 crore during the six months period ended from Rs 254.53 crore during the same period last year. The net sales/income from operations amounted to Rs 1378.14 crore against Rs 1343.03 crore. Other income rose to Rs 39.71 crore; gross profit slumped to Rs 274.28 crore mainly due to higher expenditure and interest.

The provision for depreciation absorbed a higher amount of Rs 115.41 crore but taxation provision is lower at Rs 16.68 crore.

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