Financial Daily from THE HINDU group of publications
Saturday, Jul 24, 2004
Financial Daily from THE HINDU group of publications Saturday, Jul 24, 2004 |
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Corporate Results
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Fertilisers Indo Gulf Q1 net drops 34% to Rs 8 crore Our Bureau
Mumbai , July 23 INDO GULF Fertilisers Ltd has ended the first quarter of 2004-2005 with a 34 per cent decline in its net profit at Rs 8 crore, against Rs 12.2 crore in the year-ago period. The company said the drop in profit was on account of lower other income and an increase in raw material cost. Other income dipped to Rs 6.5 crore (Rs 12 crore). Net sales increased by 135 per cent to Rs 94.67 crore (Rs 40.3 crore). During the quarter, the company produced 2.38 lakh tonnes of urea, reflecting capacity utilisation in excess of 100 per cent. The company said in the short-term, demand for urea may be affected because of deficit rainfall.
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