Deepak Fertilisers Q3 net profit down 98% at Rs 1.25 cr

Deepak Fertilisers' standalone net profit plunged by 98 per cent to Rs 1.25 crore for the quarter ended December, 2014, due to lower sales and higher finance cost.
Pune-based fertiliser firm, having 3 lakh tonnes of annual production capacity, had posted a net profit of Rs 64.27 crore in the year-ago period.
Total income from operations fell by 19 per cent to Rs 818.48 crore in the October-December quarter of this fiscal from Rs 1,014.04 crore in the corresponding period of the previous year, Deepak Fertilisers and Petrochemicals said in a BSE filing today.
Finance cost rose to Rs 29.91 crore during the third quarter of this financial year from Rs 19.96 crore in the same period of previous fiscal.

Deepak Fertilisers also said that its supply of doemstic gas has been stopped since May last year and it has moved the Delhi High Court against the order of Petroleum Ministry.
The government has also constituted an Inter Ministerial Committee to review its decision, it added.
Meanwhile, Deepak Fertilisers is competing with Zuari group for takeover of Vijay Mallya-led Mangalore Chemicals and Fertilisers Ltd.
Shares of the company fell by 5.67 per cent to close at Rs 131.40 on BSE.