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Net loss of state-run Fertilizers and Chemicals Travancore Ltd (FACT) widened to Rs 136.37 crore for the quarter ended March 31, despite a rise in income.
The company had reported net loss of Rs 97.25 crore in the same period of 2013—14 fiscal.
Total income from operations during January—March quarter of 2014—15 rose to Rs 476.81 crore, from Rs 394.34 crore in the year—ago period.
For the entire 2014—15 fiscal, net loss zoomed to nearly Rs 400 crore, from Rs 264.96 crore in 2013—14.
The total income from operations dipped to Rs 1,991.33 crore in 2014—15 from Rs 2,220.73 crore in 2013—14.
Its main business is manufacturing and marketing of fertilisers, caprolactam (synthetic crystalline compound used as intermediate in nylon manufacture) and engineering consultancy and fabrication of equipment.
Government is working on restructuring of the company. The Fertiliser Ministry had prepared a Cabinet note for providing around Rs 1,000 crore to FACT.
“FACT requires a re—structured plan. We want to have a long—term solution for FACT,” Fertilisers Minister Ananth Kumar had said.
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