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Chambal Fertilisers Q1 PAT spurts 81% to Rs 298 cr

Capital Market 

The fertilizer manufacturer's consolidated net profit surged 81.5% to Rs 298.38 crore on 12.8% jump in net sales to Rs 3,218.67 crore in Q1 June 2020 over Q1 June 2019.

Consolidated profit before tax (PBT) soared 70% to Rs 460.27 crore in Q1 June 2020 as against Rs 270.80 crore in Q1 June 2019. Current tax expense for the quarter rose 14.4% at Rs 83.61 crore as against Rs 73.10 crore in Q1 June 2019. The result was declared post trading hours yesterday, 29 July 2020.

On a standalone basis, net profit jumped 33.1% to Rs 314.03 crore on 12.8% spurt in net sales to Rs 3,218.67 crore in Q1 June 2020 over Q1 June 2019.

The firm witnessed an increase in sale quantity of both UREA and P&K fertilisers. However, revenue has not increased proportionately due to lower gas price and lower cost of P&K fertilisers. Standalone PAT increased on account of better performance of manufacturing of urea and marketing of P&K fertilisers coupled with lower finance cost.

Chambal Fertilisers & Chemicals manufactures ammonia, urea, pesticides and other products for farming and other agricultural applications. The company also provides consulting services to farmers on their seeding programs.

Shares of Chambal Fertilisers & Chemicals dropped 3.40% to Rs 158.90 on BSE. The stock traded in the range of Rs 157.10 to Rs 173.15 so far.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 30 2020. 13:08 IST