Deepak Fertilisers & Petrochemicals Corporation Ltd (DFPCL), a multi-product company, posted 24 per cent decline in net profit at Rs 40.26 crore in the third quarter of the current fiscal year.
The company's business is into manufacture and sale of methanol, nitric acid, iso propyl alcohol, technical ammonium nitrate, nitro-phosphate and sulphur bentonite fertiliser,
Profit after tax during the quarter under consideration slumped for the third quarter ended December 31, 2010 as against Rs 52.86 crore in the same period of the previous year.
Total income from operations rose to Rs 375.03 crore as against Rs 366.84 crore in Q3, FY10.
The company, however, clarified that the net profit in the third quarter under review is not comparable with the corresponding quarter for the previous financial year given the exceptional gain of Rs 25.71 crore (net) arising from sale of surplus land in the third quaretr FY10.
The company's own manufactured component of the sales grew 20 per cent for the third quarter Decemebr 31 ended 2011.
The chemicals business registered a growth of 23 per cent to Rs 262.96 crore from Rs 213.41 crore in the corresponding quarter for FY10. Sales for the fertiliser business stood at Rs 120.27 crore against Rs 157.64 crore in the third quarter FY10.
The own manufactured fertiliser component of sales was higher by 9 per cent in this quaretr than the saem quarter a year ago. The trading component of fertiliser sales was lower mainly on account of lower prices for bulk fertilisers like MOP.
The company also announced that it had introduced an enhanced version of its nitro phosphate fertiliser product, Mahadhan Power, with the grading of 24:24:0 from its earlier 23:23:0.