State owned National Fertilizers Ltd (NFL) has reached all-time high total fertilizer sales of 18.79 Lakh MT in April-July, 2020 showing a growth of more than 20% than the previous best of 15.64 Lakh MT recorded during the same period last year. 

 

This includes the sale of Urea, DAP, MoP, NPK, SSP and Bentonite Sulphur during the said period. Out of this, the sale of the company's core product Urea has registered a sale of 15.87 Lakh MT higher by 17% than the CPLY.

 

On the other hand, NFL reported a consolidated net loss of Rs 181.06 crore in 2019-20 fiscal due to reversal of subsidy amount accrued between 2014 and 2019. The company had posted a net profit of Rs 293.97 crore in the previous financial year, according to a regulatory filing.

 

Net income rose to Rs 13,135.36 crore during 2019-20 from Rs 12,429.13 crore in 2018-19.

 

NFL said it posted a loss in the year as the minimum fixed cost subsidy of Rs 388.85 crore, accrued during April 2014 to March 2019 period, was reversed.

 

The company said "adverse impact" is anticipated on company's business in 2020-21 due to restriction on manpower movement and delay in commissioning of energy reduction projects due to lesser availability of contract labour at site and delay in visit of foreign experts for commissioning activities.

 

Besides, rationalisation of government expenditure may result in delayed settlement of outstanding subsidies straining liquidity and working capital, the company said.