RCF reports Rs 82.88 cr net profit in Sept quarter

State-run Rashtriya Chemicals and Fertilisers (RCF) today reported a 6% increase in its net profit to Rs 82.88 crore for the quarter ended September 30.

The company had posted a net profit of Rs 77.83 crore in the year-ago period, it said in a filing to the BSE.

RCF's net sales rose by 14% to Rs 939.58 crore in the second quarter this fiscal from Rs 821.45 crore in the same quarter of 2011-12 fiscal.

The total expenditure by the company rose by 12% to Rs 1,557.45 crore in July-September of 2012-13 fiscal as against Rs 1,394.22 crore in the same period last fiscal.

RCF has lined up a capex of Rs 6,300 crore, which it will spend over the next five years to fuel its expansion and is also considering to invest in Canadian potash mines.

The company has also proposed to set up a coal-based fertiliser plant at Talcher, Odisha, to be developed jointly by Coal India and RCF and an ammonia urea plant in Ghana, which will be developed in a joint venture with the Ghana government.

The Mumbai-based public sector undertaking (PSU) produces various grades of complex fertilisers at its two manufacturing units in Thal and Trombay in Maharashtra. It is one of the country's leading urea producers.

Shares of the company closed at Rs 54.70 apiece, 0.55% up from its previous close on the BSE.