Chemical
RCF crosses Rs. 100 Cr sales in industrial products
In the ongoing current COVID-19 pandemic, the company is fully geared up to face the upcoming challenges and ready to capitalize on the opportunities coming its way.
- By ICN Bureau
| June 07, 2020
Rashtriya Chemicals and Fertilizers (RCF), a PSU Under the Department of Fertilizers government of India has crossed Rs. 100 crore sales of its industrial products in the first two months of FY2020-21.
Going forward, the farming sector is expected to get help from a good monsoon forecast in FY2020-21. In the ongoing current COVID-19 pandemic, the company is fully geared up to face the upcoming challenges and ready to capitalize on the opportunities coming its way.
RCF tripled its standalone profit after tax in the March quarter to Rs. 142.28 crore from Rs.48.47 crore in the previous year registering an increase of 193.54%. Profit after tax for the financial year ended 31st March 2020 surged to Rs. 208.15 crores from Rs 139.17 core in previous year. Annual revenue from operations jumped 9% year-on-year (y-o-y) to Rs. 9,698 crore, which is the highest ever since inception.
Fertilizer industry got some relief as the government approved vintage allowance of Rs. 150 per tonne to certain plants (30 years old + converted to gas) and additional fixed cost of Rs. 350 per tonne of urea as per Modified NPS III which was long awaited. RCF has accounted for the same in Q4 of FY2019-20.
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