Saturday 19th of August 2017

Follow Us

Breaking News

Deepak Fertilisers and Petrochemicals announces Q1 results, consolidated operating income grows by 20%

Mumbai, Aug 11 :--  Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) on Friday announced its financial results for the quarter ended June 30, 2017 (Q1 FY18).

 

The financial results for the quarter are drawn up after giving effect to the Scheme of Restructuring approved by NCLT.

 

Accordingly, the company’s standalone results pertain to its Industrial Chemicals and Value-added Retail business whereas the consolidated results represent businesses including Industrial Chemicals, Fertilizers, Technical Ammonium Nitrate and Value added real estate.

 

On a standalone basis, total income of the Company for the quarter stood at Rs.642.72 crores, PBT stood at Rs.17.70 crores and PAT was Rs. 12.64 crores. Since the restructuring was effected on 01.05.2017 in the current financial year, results are not comparable with the same quarter previous year.

 

The company has decided to also publish consolidated financial results from Q1 of 2017-18. Total income of the Company grew by 19%, from Rs. 1078.05 crores in Q1 FY17 to Rs. 1283.30 crores in Q1 FY18.  Operating EBIDTA on a consolidated basis, excluding the onetime income of Rs 11.72 arising out of investment income in Q1 of FY 17, grew from Rs. 108.10 crores in Q1 FY17 to Rs. 122.55 crores in Q1 FY18.  PBT stood at Rs. 47.96 crores in Q1 FY18 as compared to Rs. 57.47 crores in Q1 FY17 and PAT stood at Rs. 37.70 crores in Q1 FY18 as compared to Rs. 45.06 crores in Q1 FY17

 

On a consolidated basis, chemicals segment reported revenue of Rs. 810.83 crores in Q1 FY18 as compared to Rs. 794.09 in Q1 FY17, and segment profit stood at Rs. 86.22 crores in Q1 FY18 as compared to Rs. 134.83 crores in Q1 FY17 respectively. 

 

The company suffered loss in industrial chemicals trading activities on account of price volatilities backed by sudden spikes in prices of crude and ammonia.   However, this has been consistently profitable over earlier several quarters and market outlook is regaining stability.  

 

Technical Ammonium Nitrate business demonstrated a steady performance during the quarter.

 

In Fertilizer business, the company, in addition to its flagship NP grade, also produced NPK from its newly commissioned NPK plant and during Q1, company produced additional NPK volumes of 87,032 MT and the new grades have received encouraging response from its markets. 

 

Fertilizer segment reported revenue of Rs. 461.69 crores in Q1 FY18 as compared to Rs. 293.39 in Q1 FY17, segment profit stood at Rs. 26.13 crores in Q1 FY18 as compared to loss of Rs. 13.32 crores Q1 FY17 respectively.

 

Sailesh C. Mehta, Chairman & Managing Director – DFPCL mentioned, “Performance of Q1 has been encouraging with better volumes and higher capacity utilization as compared to previous year same period.   Monsoons in most of our core markets have been good and as compared to past couple of years, there has been a healthy demand for farm inputs, especially complex fertilizers.   Apropos normal rains, we are optimistic about a better performance during the upcoming rabi season too. With thrust on infrastructure and power generation, the Company is poised to continue healthy performance in the forthcoming quarters."

Related Business News

Indian benchmark indices decline on Friday, RBI says will issue new Rs 50 note soon

 Mumbai, Aug 18 : Indian benchmark indices ended lower on Friday with  BSE Sensex down 270.78 points at 31524.68, and NSE Nifty down 66.75 points at 9837.40.   Friday was marred by a bitter feud at Infosys, one of India's leading IT services provider, between the company's board and t....

Jaitley asks states to reduce VAT on Petroleum Products used for manufacturing

New Delhi, Aug 18:--  Union Fiance Minister Arun Jaitley has written to State Chief Ministers urging the States to reduce burden of Value Added Tax (VAT) on Petroleum Products used as inputs in making of goods after the introduction of Goods and Services Tax (GST).   The letter by the Fina....

Finance Minister Arun Jaitley writes to State Chief Ministers to reduce burden of Value Added Tax on Petroleum Products used for manufacturing

New Delhi,Aug 18,(Fast Mail):-- The Union Minister of Finance, Defence and Corporate Affairs, Arun Jaitley has written to State Chief Ministers urging the States to reduce burden of Value Added Tax (VAT) on Petroleum Products used as inputs in making of goods after the introduction of Goods and Serv....

Vishal Sikka resigns as Infosys CEO

Bengaluru, Aug 18:-- Vishak Sikka has put down his resignation papers as the CEO of Infosys.   Sikka took to Twitter to announce his decision.   In his personal blog, dated Aug 17, he wrote, "Earlier today I resigned my position as MD & CEO of Infosys."   Dedicating his ....

Godrej Security Solutions urges women to take charge of their security

Mumbai, Aug 18:-- Godrej Security Solutions kick started a multi-city consumer awareness programme and campaign #IAmSecure.   The objective of this campaign, the first leg of which was held today in Mumbai at Godrej One, is to create awareness among women to be more proactive and take charge of....

Links
Contact
Editor :
Jagadananda Pradhan
Email :
fastmailmedia@gmail.com
fastmail@yahoo.com
Mob :(+91) 9437155542
Ph : 06764 223911
Contact Us
© 2015 Fast Mail Media Pvt Ltd. All Rights Reserved.
Developed by : FM Media Pvt Ltd.