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BIZ-RESULTS-DEEPAK FERTILISER


PTI Last Updated at 09 Aug 2018, 20:08 IST India

Deepak Fertilisers and

Petrochemicals Corporation today posted a 10 per cent rise in

consolidated net profit to Rs 37.25 crore in the June quarter.

The company had reported a net profit of Rs 33.78

crore in the year-ago period.

Its total income grew 74 per cent from Rs 1,280.30

crore in Q1 FY18 to Rs 2,226.19 crore in Q1 FY19, the company

said in a release.

The chemicals segment reported revenues of Rs 1,637.53

crore in the June quarter, compared with Rs 810.83 crore in

the year-ago period, with segment profit standing at Rs 151.29

crore, against Rs 86.22 crore last year.

Its industrial chemicals traded products portfolio

recorded a substantial 253 per cent jump in revenues.

The fertiliser segment reported revenues of Rs 580.14

crore, compared with Rs 461.69 crore, with the segment profit

standing at Rs 17.05 crore, against Rs 26.13 crore.

"The company said multiple global phosphoric acid and

LNG price hikes and a lag in transferring its impact in the

new MRPs have led to the underperformance of the segment in

the quarter," the company said.

It strengthened its leadership position in specialty

fertilisers segment, selling 8,748 tonne of sulphur bentonite

in the June quarter, compared with 5,172 tonne last year, a

growth of 69 per cent.

Meanwhile, the company's board today approved capacity

expansions of isopropyl alcohol (IPA) and technical aluminium

nitrate (TAN) due to growing product demand, with a capex

outlay of about Rs 2,350 crore.

It also approved a ammonia facility capex as a

backward integration at the cost of about Rs 2,950 crore.

The board has also approved raising of equity up to Rs

800 crore through various options of securities towards part

funding the capex plan, to ensure prudential leverage norms,

the release said.

The company's shares ended 1.81 per cent lower at Rs

273.45 apiece on the BSE today, against 0.36 per cent rise in

the benchmark.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
COUNTRY :
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