Financial Daily from THE HINDU group of publications
Wednesday, Apr 28, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 28, 2004 |
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Corporate Results
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Fertilisers Indo Gulf net dips 47.75 pc Our Bureau
Mr Rakesh Jain, Managing Director, Indo Gulf Fertilisers Ltd, announcing a company's in Mumbai on Tuseday. — Shashi Ashiwal
Mumbai , April 27 INDO Gulf Fertilisers Ltd reported a fall in net profit to the extent of 47.75 per cent at Rs 90.27 crore for the year ended March 2004 compared to Rs 172.80 crore in the earlier year. The company said it had higher subsidy arrears of Rs 132.96 crore in the earlier year, therefore the results are not comparable. The board of directors has recommended a dividend of Rs 2.80 per share. Net sales stood at Rs 578.53 crore (Rs 675.21 crore). Sales of urea at 8.79 lakh tonnes were higher by 1.5 per cent from the previous year. The company exported 0.17 lakh tonnes. Production of urea was 8.62 lakh tonnes. The company said it had faced severe constraints faced by the company on account of limited availability of natural gas. Indo Gulf Fertilizers Ltd has informed BSE that the Indian Meteorological Department predicts a favourable monsoon for the current year, both in terms of timing and distribution, which augurs well for the Urea sector. Kharif and Rabi crops are expected to enhance acreage and yield under cultivation. ``This would lead to a higher consumption of Urea by about 4 to 5 per cent. The outlook therefore is positive,'' it said.
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