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Deepak Fertilisers and Petrochemicals Corporation Ltd has posted a net profit of Rs 29 crore for Q4 FY13 versus Rs 45 crore for Q4 FY12, a decline of approximately 32 per cent year-on-year. The company’s total income in the quarter under review fell 4.6 per cent to Rs 659 crore (Rs. 691 crore).
The Board has declared a dividend of 55 per cent, or Rs 5.50 per share. During fiscal 2013, the company’s net profit dropped approximately 31 per cent to Rs 147 crore (Rs 213 crore), while total income was up 11 per cent at Rs 2,606 crore (Rs 2,343 crore).
Agri-business edges up
Segment revenue for agri-business in 2013 was Rs 993 crore (Rs 970 crore), while profit stood at Rs 110 crore (Rs 113 crore).
The chemicals segment registered a growth of 18 per cent to Rs 1,689 crore (Rs 1,430 crore). Profits stood at Rs 249 crore (Rs 326 crore), impacted by a 30 per cent price rise year-on-year of ammonia.
Strike
A strike by workers at its Taloja plant, which has been on since January 3, has not had a significant impact on production, Deepak Fertilisers said, adding that negotiations are under way.
Chairman and Managing Director Sailesh C. Mehta said: “The year saw the drought hitting the fertiliser industry hard and high raw material prices, especially in ammonia. The Government delayed fertiliser subsidy payments, which had its own negative impact on the industry’s cash flows.”
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