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(Reuters)

DuPont Reports Steep Drop in Quarterly Profit

Industries Reuters

Chemicals and seeds producer DuPont's quarterly profit was nearly wiped off after the company took charges related to employee severance and asset write-downs.

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DuPont posted net income attributable to shareholders of $2 million, or breakeven per share, in the third quarter ended Sept. 30 compared with $235 million, or 26 cents per share, a year earlier.

The company recorded a net charge of $172 million, including a write-down of some intangible assets.

DuPont's net sales rose marginally to $4.92 billion.

DuPont's $130 billion mega-merger with Dow Chemical is being scrutinized by regulators around the world, with EU antitrust regulators resuming their investigation of the merger this month after halting it in early September.

 

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(Reporting by Arathy S Nair in Bengaluru; Editing by Anil D'Silva)