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Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) recorded a 22 per cent rise in its Q1 2011-12 net profit that stood at Rs 63.94 crore (Rs 52.20 crore). Income from operations was Rs 473.87 crore, a 35 per cent rise year-on-year.
In the quarter under review, sales for the chemicals business grew 44 per cent to Rs 332.71 crore, while the agri-business sales were 14 per cent higher at Rs 147.44 crore. The sales of specialty fertilisers grew 23 per cent.
Segment profitability for the agri-business was at Rs 22.63 crore, a rise of 53 per cent YoY, and that for the chemicals business grew 21 per cent to Rs 94.49 crore.
DFPCL’s new TAN complex at Taloja supporting the mining and infrastructure sector is now operational. It produced 33,224 mt of the product during Q1 FY12, and production will be gradually ramped up through the year.
The company has also announced that it is setting up a new concentrated nitric acid plant to support the rising demand for the product across India. The 46,200 mtpa plant will be located at Taloja and is expected to be completed over a 12-month time-frame.
Work on converting Ishanya mall from a specialty mall to a Lifestyle Centre, with a wide range of consumer offerings and some unique food and entertainment options is currently under way, and will be completed in the third quarter of the current fiscal. This is expected to result in a significant increase in footfalls and revenue going forward.
The company has declared a 50 per cent dividend for FY 2010-11.
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