FACT back in the black in Q1

Fertilisers and Chemicals Travancore Limited (FACT) registered a net profit of Rs 3.68 crore for the quarter ended June 30, 2010, as against a net loss of Rs 34.54 crore during the same period last year.

The Kochi-based fertiliser major said though the company was in loss during April and May in Q1 due to annual maintenance activities, this could be covered with improved production and sales in June.

FACT sold 143,667 tonnes of factamfos during the quarter as against 138,520 tonnes last year. The corresponding sales figures for ammonium sulphate stood at 54,057 tonnes and 21,060 tonnes respectively.

The new nutrient-based fertiliser subsidy scheme helped the company improve its operational results. FACT set a new record in the sale of ammonium sulphate for June at 38,345 tonnes.

The company has further diversified the product range by launching zincated factamfos, a new variant of factamfos with zinc as the additional nutrient, which is required for balanced growth of plants.