Financial Daily from THE HINDU group of publications
Wednesday, Jan 21, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jan 21, 2004 |
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Corporate Results
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Fertilisers Indo Gulf Q3 net at Rs 23.11 cr Our Bureau
Mumbai , Jan. 20 INDO Gulf Fertilisers Ltd has ended the third quarter of 2003-2004 with a net profit increase of one per cent at Rs 23.11 crore as against Rs 22.98 crore in the year-ago period. However, the company reported a 20 per cent increase in its turnover at Rs 149.98 crore compared to Rs 124.81 crore in the year-ago period. "This growth has been driven by the increased demand for fertilisers on the back of a good monsoon, a higher premium on the Shaktiman brand, operational efficiencies and cost optimisation,'' the company said in a news release. Sales of urea stood at 2.41 lakh tonnes, higher by 14 per cent over the year-ago period. The closing stocks stood reduced to less than 0.17 lakh tonne.
Other income during the quarter fell by 42 per cent to Rs 7.28 crore from Rs 12.59 crore. For the nine-month period, net profit rose by 17 per cent to Rs 63 crore (Rs 54 crore). Net sales moved up by six per cent to Rs 406.94 crore (Rs 384.88 crore).
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