Deepak Fert Q4 net rises 19%

Our Bureau Pune | Updated on May 11, 2011 Published on May 11, 2011

Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) has posted a 19 per cent rise year-on-year in its Q4 net profit, which stood at Rs 52.7 crore for the three-month period ended March 31, 2011. Income from operations was Rs 428.48 crore, a growth of 32 per cent over Q4 10.

During FY 11, the company's net profit was Rs 186.61 crore (Rs 172 crore). However, PAT for the year under review is not comparable with the previous fiscal given the exceptional gain of Rs 25.71 crore (net) arising from the sale of surplus land in FY10 as against an exceptional loss of Rs 3.38 crore arising from the reconstruction at Ishanya.

Revenue grew 21 per cent to Rs 1,564.82 crore (Rs 1,288 crore). The company has announced a dividend of 50 per cent. Profitability for the agri-business FY 11 grew 96 per cent to Rs 31.65 crore, while sales were 20 per cent higher at Rs 531.18 crore. Profit from the chemicals business stood 21 per cent higher at Rs 319.46 crore on 26 per cent higher sales of Rs 1,076 crore.

Commenting on the performance, Mr Sailesh C. Mehta, Vice-Chairman and Managing Director, DFPCL said, “We have recorded higher profits this year primarily on account of an increase in the sale of own manufactured products and better realisations on key products. The new NBS policy has gone down well for the industry as a whole. Our agri-business has posted improved profitability on the back of higher production and the NBS policy.”

Published on May 11, 2011
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