Deepak Fertilisers Q1 net up 22% at Rs 64 cr

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) today reported a 22% jump in its net profits to Rs 63.94 crore for the first quarter ended June 30, 2011.

The company had reported a net profit of Rs 52.20 crore in the year-ago period, it said in a filing to the Bombay Stock Exchange (BSE).

The total income of DFPCL in the first quarter of the current fiscal rose by 35% to Rs 473.87 crore as compared to Rs 350.54 crore in the same quarter of the previous fiscal.

The Pune-based company's agri and chemicals segments registered robust growth during the June quarter.

 

The segment profitability for the agri-business was at Rs 22.63 crore, a rise of 53% year-on-year and that for the chemicals business grew 21% to Rs 94.49 crore.

DFPCL is setting up a new concentrated nitric acid plant to meet the rising demand for the product across India. The 46,200 million tonnes per annum plant will be located at Taloja, near Navi Mumbai and is expected to be completed in 12 months.

Shares of the company closed at Rs 160, down by 0.65% from previous close at the BSE.