Chemical
Chambal Fertilisers net profit rises by 77% in first quarter
Net income rose to Rs 3,246 crore in April-June quarter from Rs 2,800.28 crore in the same period a year ago.
- By ICN Bureau
| July 30, 2020
Chambal Fertilisers and Chemicals Ltd (CFCL) on Wednesday reported a 76.82 percent jump in consolidated net profit at Rs 298.38 crore for the first quarter of fiscal 2020-21 on strong sales. The company had posted a net profit of Rs 168.74 crore in the same quarter of previous fiscal, CFCL said in a regulatory filing.
Net income rose to Rs 3,246 crore in April-June quarter from Rs 2,800.28 crore in the same period a year ago.
The company posted a higher EBIDTA due to robust operating performance of both manufacturing of Urea and marketing of P&K fertilisers.
Sales of both UREA and P&K fertilisers increased during the quarter. However, revenue did not increase proportionately due to lower gas price and lower cost of P&K fertilisers.
PAT increased by 33% on account of better performance of manufacturing of Urea and marketing of P&K fertilisers coupled with lower finance cost.
CFCL said there was no impact of COVID-19 pandemic on its operations during the quarter as the company was able to operate its plants at normal levels. "The company's production, dispatches, sales and market collections remained unaffected," it said in the filing.
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