Home Business Deepak Fertilisers’ Q1 web up 10% at Rs 37.25 crore; whole revenue...

Deepak Fertilisers’ Q1 web up 10% at Rs 37.25 crore; whole revenue grows 74% to Rs 2,226.19 crore

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Deepak Fertilisers' Q1 net up 10% at Rs 37.25 crore; total income grows 74% to Rs 2,226.19 crore


Mumbai: Deepak Fertilisers and Petrochemicals Company on Thursday posted a 10 % rise in consolidated web revenue to Rs 37.25 crore within the June quarter.

The corporate had reported a web revenue of Rs 33.78 crore within the year-ago interval.

Its whole revenue grew 74 % from Rs 1,280.30 crore in Q1 FY18 to Rs 2,226.19 crore in Q1 FY19, the corporate stated in a launch.

The chemical substances section reported revenues of Rs 1,637.53 crore within the June quarter, in contrast with Rs 810.83 crore within the year-ago interval, with section revenue standing at Rs 151.29 crore, towards Rs 86.22 crore final yr.

Representational picture. Reuters

Its industrial chemical substances traded merchandise portfolio recorded a considerable 253 % soar in revenues.

The fertiliser section reported revenues of Rs 580.14 crore, in contrast with Rs 461.69 crore, with the section revenue standing at Rs 17.05 crore, towards Rs 26.13 crore.

“The corporate stated a number of world phosphoric acid and LNG value hikes and a lag in transferring its affect within the new MRPs have led to the underperformance of the section within the quarter,” the corporate stated.

It strengthened its management place in speciality fertilisers section, promoting 8,748 tonne of sulphur bentonite within the June quarter, in contrast with 5,172 tonne final yr, a progress of 69 %.

In the meantime, the corporate’s board right this moment accepted capability expansions of isopropyl alcohol (IPA) and technical aluminium nitrate (TAN) as a consequence of rising product demand, with a capex outlay of about Rs 2,350 crore.

It additionally accepted an ammonia facility capex as a backward integration at the price of about Rs 2,950 crore.

The board has additionally accepted elevating of fairness as much as Rs 800 crore by means of varied choices of securities in direction of half funding the capex plan, to make sure prudential leverage norms, the discharge stated.

The corporate’s shares ended 1.81 % decrease at Rs 273.45 apiece on the BSE right this moment, towards 0.36 % rise within the benchmark.



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