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Colour-Chem has achieved a net profit of INR 270 lakhs for the quarter ended 30 September 2005, as against a net profit of INR 27 lakhs, in the corresponding period of the previous year. (The net profit of the Company for the quarter ended 30 September 2004 included the provision of an extraordinary expense of INR 650 lakhs in respect of sale of land in Thane). The profit for the quarter under review was also impacted by the extraordinary provision of INR 330 lakhs on account of higher liability of gratuity. The Company's net profit for the six months ended 30 September 2005 increased to INR 890 lakhs from INR 868 lakhs in the corresponding period of the previous year. Net sales during the quarter were marginally lower at INR 9577 lakhs than INR 10163 achieved in the corresponding quarter of the previous year. Pursuant to the decision taken by the Board of Directors at their meeting held on 16 September 2005 and subject to the receipt of all statutory approvals, it is proposed to merge the Clariant affiliates ' namely Clariant (India) Limited, BTP India Pvt. Limited and Colour-Chem's subsidiaries Vanavil Dyes and Chemicals Limited and Kundalika Investments Pvt. Limited ' into Colour-Chem Limited. Further, it is proposed to rename the merged entity as Clariant Chemicals (India) Limited.
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