The Hindu Business Line : PPL back in black; posts Rs 12.7-cr net

After remaining in the red for more than a decade, Paradeep Phosphates Ltd (PPL) has returned to black. The company achieved a net profit of Rs 12.7 crore in 2005-06.

The company, which was set up in the early 80s, was sold to Zuari Maroc Phosphates, a joint venture of Zuari Industries of the KK Birla Group and fertiliser giant OCP of Morocco, in March 2002.

Mr S.S. Nandurdikar, Managing Director, said that PPL recorded sales of Rs 1,971.3 crore during the year, compared to Rs 1,595 crore in the previous fiscal, registering an increase of 23.6 per cent.

The company's export of phosphatic fertilisers to Nepal and gypsum to Bangladesh also increased.

The company produced 12.58 lakh tonnes of DAP and complex fertilisers against 10.21 lakh tonnes earlier, clocking a rise of 23 per cent, Mr Nandurdikar said.

Sulphuric acid production was 7.35 lakh tonnes (6.39 lakh tonnes), up 15 per cent.

Production of phosphoric acid, another intermediate product, grew 21 per cent to 2.58 lakh tonnes (2.13 lakh tonnes).

Sales touched a new high of 14.40 lakh tonnes, comprising 12.68 lakh tonnes of the company's own produced fertilizers and 1.71 lakh tonnes of MOP.

The company continues to be the second largest producer of phosphatic fertilisers, selling its products in 16 States.