The Hindu Business Line : Paradeep Phosphates net loss down at Rs 15.08 cr

The company's turnover increased to over Rs 1,608 crore (Rs 1,033 crore), as a result of which net loss came down to Rs 15.08 crore from Rs 38.47 crore. Sales of fertilisers increased to 11,52,965 tonnes (8,37,002 tonnes).

The Managing Director, Mr S.S. Nandurdikar, said that the sale of MOP (muriate of potash) increased to 92,332 tonnes (33,433 tonnes), while gypsum sales went up to 2,69,867 tonnes (1,59,207 tonnes).

Stating that the company had become the second largest fertiliser unit in the country after IFFCO, Mr Nandurdikar said that the company's production of DAP and complex fertilisers in 2004-05 increased from 8,88,710 tonnes to 10,21, 225 tonnes, an increase of about 15 per cent.

Intermediaries like sulphuric acid and phosphoric acid also registered growth, which he attributed to increased capacity utilisation and technological upgradation. The new shareholders have already invested Rs 142 crore after acquisition, he said, and expressed the hope that the company would return to black during the current fiscal.

While operating in nine States in the country, the company also exports to Nepal and Bangladesh. Mr Nandurdikar said that the company has taken up two projects in Nayagarh and Nawrangpur districts in Orissa and Sarguja and Jashpurnagar in Chhattisgarh to educate the farmers on modern farming, fertiliser use, and crop diversification.

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