NFL Faces Financial Dip with 70% Profit Decline

State-owned National Fertilizers Ltd reported a 70% drop in its consolidated net profit to Rs 45.81 crore for the December quarter. The dip is attributed to a 23% decrease in total revenue, as outlined in the company's latest regulatory filing, despite a reduction in expenses.

State-owned National Fertilizers Ltd (NFL) has announced a significant decline in its financial performance for the December quarter, with net profits plummeting by 70% to Rs 45.81 crore. This marks a stark contrast to the Rs 150.90 crore profit reported during the same period last year.

The decline is closely linked to a 23% reduction in total revenue, which fell to Rs 5,855.85 crore, compared to Rs 7,584.27 crore in the previous fiscal year. This downturn highlights a concerning trend for the company, as outlined in their latest regulatory filing.

On a somewhat positive note, NFL reported lower expenses, totaling Rs 5,842.01 crore during the quarter, down from Rs 7,409.05 crore a year ago. The company's financial setback serves as a reminder of the ongoing challenges within the fertilizer sector.

(With inputs from agencies.)