April 27 (Reuters) - Seeds and chemical maker Dow Chemical Co, which is merging with DuPont, reported a much bigger quarterly profit from a year earlier, when the company recorded charges of $824 million.
Net income available to the company’s shareholders rose to $888 million, or 72 cents per share, in the first quarter ended March 31 from $169 million, or 15 cents per share, a year earlier.
The latest quarter included a $386 million charge, primarily from an arbitration related to its agrosciences business.
The year-earlier charges included $778 million related to the settlement of a 2005 lawsuit that accused Dow and other companies of conspiring to fix prices of urethane chemicals in the preceding six years.
Net sales rose 23.6 percent to $13.23 billion in the latest quarter.
Reporting by Swetha Gopinath and Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila