Deepak Fertilisers Q2 net up over two-fold at Rs 26.41 cr

Deepak Fertilisers today reported an over two-fold increase in net profit at Rs 26.41 crore for the quarter ended September 30, on account of higher volumes and improved margins in the chemical business.
The company had clocked a net profit of Rs 10.02 crore in the year-ago period.
Total income of the company was up 3 per cent to Rs 1048.47 crore from Rs 1017.30 crore in the corresponding quarter of the previous fiscal.
"The quarter witnessed sizable increase in volumes, though poor monsoons, volatility in foreign exchange and fall in global commodity prices largely impacted the business operation," Deepak Fertilisers And Petrochemicals Corporation Ltd (DFPCL) CMD Sailesh Mehta said in a statement.

"We are optimistic about our performance in the quarters to come and are hopeful that the resumption of domestic gas and the upcoming Rabi season will be the positive factors," Mehta added.
The company also said that the government is yet to resume the supply of domestic gas to the company, though two different court orders have acknowledged the fact that the discontinuation of supply of gas was discriminatory and arbitrary and have directed the government to restore the same.
The company also said in a regulatory filing that the board has approved the proposed scheme for amalgamation of SCM Soilfert Ltd with Deepak Fertilisers subject to all relevant approvals.