FACT registers Q1 profit at Rs 3.68 cr

The Central PSU Fertilisers and Chemicals Travancore Limited (FACT), has registered a net profit of rs 3.68 crore during the first quarter of the current fiscal.

Even though company recorded loss during April and May 2010 due to annual maintenance activities, the loss could be covered up with improved production and sales performance during June and thus recorded a profit for the first quarter, FACT said in a press release here.  

This turnaround of the company becomes all the more noteworthy when viewed against the performance during the same period last year which showed a loss of Rs 34.54 crore.

While FACT sold out 1,43,667 tonnes of Factamfos during this quarter as against 1,38,520 tonnes achieved during the same period last year, the corresponding sales figures for Ammonium Sulphate are 54,057 and 21,060 tonnes respectively.

Along with stepped up production and brisk sales, the new nutrient based fertiliser subsidy scheme announced by the Union Government with effect from Apr 1 this year also helped the company improve its operational results.

FACT is confident of closing the current financial year with an impressive profit with further improvement in production and sales performance of all products.

FACT could set a new all time record in the sale of Ammonium Sulphate for the month of June 2010, with sales figure of 38,345 tonnes.

FACT has further diversified the product range by launching zincated Factamfos, a new variant of Factamfos with zinc as the additional nutrient which is essentially required for balanced growth of plants.  At present we are producing 200 tonnes of zincated Factamfos on a daily basis.