Deepak Fertilisers Dec quarter net profit up by Rs 64cr

Company had clocked a net profit of Rs 32 crore in the same quarter of the previous fiscal

Deepak Fertilisers today reported more than doubling of its net profit to Rs 64.27 crore in the third quarter ended December 31, on account of higher sales and better earnings from its chemical and agri businesses.

It had clocked a net profit of Rs 31.65 crore in the same quarter of the previous fiscal, the company said in a BSE filing.

Total income of the company rose to Rs 1,013.41 crore in the October-December period this fiscal as against Rs 623.35 crore in the same period last fiscal.

During the period under review, the company's bottom-line got a boost as profits from its chemicals segment rose to Rs 79.54 crore as against Rs 56.07 crore.

Profits from its agri-business jumped to Rs 55.07 crore compared to Rs 13.94 crore a year ago.

Speaking at the results, Deepak Fertilisers and Petrochemicals Ltd (DFPCL) Chairman and Managing Director Sailesh Mehta stated that profits also increased as company succeeded in fully utilising its capacity.

"Our continuous efforts towards maximising capacity utilisation and operational excellence supported by favourable external factors like softening of raw material prices and stabilising of currency have resulted in overall strong performance of the organisation," Mehta said.

Shares of the company closed 7.98 per cent up at Rs 108.30 apiece on BSE today.