NFL reports sharp jump in net profit during December quarter

State-owned fertiliser firm NFL Saturday reported a nearly two-fold jump in net profit at Rs 103.92 crore for the December quarter on higher sales, especially of non-urea products. Its net profit stood at Rs 52.50 crore in the year-ago period, the company said in a regulatory filing.

Total income rose to Rs 3,797.91 crore during the October-December quarter of the current fiscal from Rs 2,872.93 crore in the corresponding period of the previous year. For the first nine months of this fiscal, NFL's profit increased to Rs 217.57 crore from Rs 145.09 crore in the year-ago period. Total income went up to Rs 9,202.88 crore from Rs 6,891.26 crore.

NFL CMD Manoj Mishra said, "With historic results in Q3 and performance of the company in nine months, we are again heading towards a new annual record. We have successfully diversified into a multi-product company as the contribution of non-urea fertilizers to total turnover has reached 22 per cent in nine months, from less than 1 per cent in 2014-15."

NFL, which has five plants at Haryana, Punjab and Madhya Pradesh, produced a record 38.1 lakh tonnes of urea in 2017-18 with 118 per cent capacity utilisation. Urea sales stood at 39.16 lakh tonnes.

(With inputs from agencies.)